Ferro Continues Momentum with Strong Organic Growth in the Fourth Quarter
February 28 2018 - 4:15PM
Business Wire
Company delivers top of the guidance range for
full year 2017 Adjusted EPS and EBITDA, and provides 2018
guidance
Ferro Corporation (NYSE: FOE):
This press release features multimedia. View
the full release here:
http://www.businesswire.com/news/home/20180228006394/en/
Fourth Quarter Financial and Operating Highlights
*:
- Net Sales increased 34.2% to
$377.5M
- Organic sales growth was 9.2% on a
constant currency basis
- GAAP diluted EPS improved to a loss of
$0.10 versus a loss of $0.25
- Adjusted EPS increased 7.4% to
$0.29
- Net Income improved to a loss of $8.7M
compared to a loss of $20.9M
- Adjusted EBITDA grew 20.1% to
$54.3M
Full Year Financial and Operating Highlights
*:
- Net Sales increased 22.0% to
$1,396.7M
- Organic sales growth was 7.3% on a
constant currency basis
- GAAP diluted EPS improved to $0.67
versus a loss of $0.25
- Adjusted EPS increased 18.3% to
$1.29
- Net Income improved to $57.1M compared
to a loss of $20.8M
- Adjusted EBITDA grew 20.3% to
$234.2M
*Comparative information is relative to prior-year fourth
quarter and full year.
The results and guidance in this release, including in the
highlights above, contain references to non-GAAP measures from
continuing operations. Reconciliation of GAAP to non-GAAP results
can be found at the end of the earnings release.
Ferro Corporation (NYSE: FOE), a leading global supplier of
technology-based functional coatings and color solutions, today
reported results for the fourth quarter ended December 31, 2017.
Ferro Corporation (www.ferro.com) supplies functional coatings for
glass, metal, ceramic and other substrates and color solutions in
the form of specialty pigments and colorants for a broad range of
industries and applications. Ferro products are sold into the
building and construction, automotive, electronics, industrial
products, household furnishings and appliance markets. The
Company’s reportable segments include: Performance Coatings (metal
and ceramic coatings), Performance Colors and Glass (glass
coatings), and Color Solutions. Headquartered in Mayfield Heights,
Ohio, the Company has approximately 5,680 associates globally and
reported 2017 sales of $1.4 billion.
Conference Call
Ferro will conduct an investor teleconference at 10:00 a.m. EDT
Thursday, March 1, 2018. Investors can access this conference via
the following:
- Webcast can be accessed by clicking on
the Investor Information link at the top of Ferro’s website at
ferro.com.
- Live telephone: Call 800-272-9104
within the U.S. or +1 303-223-2684 outside the U.S. Please join the
call at least 10 minutes before the start time.
- Webcast replay: Available on Ferro’s
Investor website at ferro.com beginning at approximately 12:00 noon
Eastern Time on March 1, 2018
- Telephone replay: Call 800-633-8284
within the U.S. or +1 402-977-9140 outside the U.S. (for both U.S.
and outside the U.S. access code is 21881197).
- Presentation material & podcast:
Earnings presentation material and podcasts can be accessed through
the Investor Information portion of the Company’s website at
ferro.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180228006394/en/
Ferro CorporationInvestor Contact:Kevin Cornelius Grant,
216-875-5451Head of Investor
Relationskevincornelius.grant@ferro.comorMedia Contact:Mary
Abood, 216-875-5401Director, Corporate
Communicationsmary.abood@ferro.com
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