RE:Blow Out Numbersthey actually missed.
OUR TAKE:
PKI reported Q3/18 Adj. EBITDA of $200M, below our $212M estimate and
consensus of $222M. This compares with $249M in Q2/18 and $96M in Q3/17.
Record quarterly Adj. EBITDA fell short of our lofty expectations despite robust
crack spreads throughout Q3/18
.