OMNOVA Solutions Inc. recently released first quarter 2019 results. Net sales for the quarter were $168.9 million, down 5.5% from last year’s $178.7 million.
“As anticipated, we faced challenging economic conditions and volatile markets during the first quarter against the backdrop of an unusually robust first quarter of 2018,” said Anne Noonan, chief executive officer. “These impacts were particularly evident early in the quarter, as customers aggressively managed their purchases to align their own inventory with their customers’ demand. While the pressure began to ease in several markets near quarter end, it was not enough to offset the slow start.
“We remain confident that our specialization strategy will continue to drive long-term shareholder value,” she said. “Despite widespread market and industry uncertainty, we recorded our ninth consecutive quarter of volume growth year-over-year in Specialty Solutions.
For more information, visit www.omnova.com.