Ferro Reports Second Quarter 2018 Results; GAAP EPS Increased 40% to $0.35 and Adjusted EPS Increased 18.9% to $0.44
July 25 2018 - 4:56PM
Business Wire
Also Makes Acquisitions That Supplement and
Expand Current Portfolio of Technologies, Setting Stage for Future
Growth
Second Quarter Financial and Operating Highlights
*:
- GAAP EPS increased 40.0% to $0.35
- Adjusted EPS increased 18.9% to
$0.44
- Net Sales increased 19.4% to $416.2
million
- Net Income increased 41.1% to $29.7
million, with EBITDA expanding 17.9% to $75.2 million
- Full-year 2018 non-GAAP guidance
reaffirmed, despite currency headwinds
- Organic sales grew 5.4% on constant
currency
*Comparative information is relative to prior-year second
quarter.
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 second quarter ended June 30, 2018. 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 5,620 associates globally and reported
2017 sales of $1.4 billion.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20180725005908/en/
Conference Call
Ferro will conduct an investor teleconference at 10:00 a.m. EDT
Thursday, July 26, 2018. Investors can access this conference via
any of the following:
- Webcast can be accessed by clicking on
the Investor link at the top of Ferro’s website at ferro.com.
- Live telephone: Call 800-909-7944
within the U.S. or +1 212-231-2935 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 July 26, 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 21891850).
- Presentation material & podcast:
Earnings presentation material and podcasts can be accessed through
the Investor Information portion of the Company’s Web site at
ferro.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180725005908/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
Ferro (NYSE:FOE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ferro (NYSE:FOE)
Historical Stock Chart
From Apr 2023 to Apr 2024