Continental Building Products, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported net sales of $116,802,000 compared to $120,615,000 a year ago. This result was primarily driven by the anticipated decrease in wallboard volumes to 615 million square feet, partly offset by higher average mill net pricing of $151.60, which is up 2.5% year-on-year. Operating income was $20,762,000 compared to $21,687,000 a year ago. Income before provision for income taxes was $17,538,000 compared to $17,957,000 a year ago. Net income was $13,646,000 or $0.36 per basic and diluted share compared to $12,227,000 or $0.31 per basic and diluted share a year ago. For the quarter, the company increased net income by 12%, the company's earnings per share by 16%. Net cash provided by operating activities was $13,743,000 compared to $18,536,000 a year ago. The decrease in operating cash flow from $18.5 million in the prior year was primarily a result of the timing of working capital spend. Capital expenditures were $5,955,000 compared to $5,359,000 a year ago. EBITDA - non-GAAP measure was $31,343,000 compared to $32,973,000 a year ago. Adjusted net income - non-GAAP measure was $13,646,000 or $0.36 per share compared to $12,681,000 or $0.32 per share a year ago.

Outlook for the full year 2018, the company total capital expenditures are expected to be in the range of $30 million to $35 million. Maintenance CapEx is expected to be approximately $15 million. High-return CapEx is expected to be in the range of $15 million to $20 million. Depreciation and amortization is anticipated to be in the range of $43 million to $46 million. And the effective tax rate is targeted to be in the range of 22% to 24%.