Ferro Delivers Seventh Consecutive Quarter of Organic Growth and Reaffirms Full-Year 2018 Guidance
May 01 2018 - 4:07PM
Business Wire
Company delivers strong revenue growth in first
quarter 2018
Ferro Corporation (NYSE:FOE):
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20180501006816/en/
First Quarter Financial and Operating Highlights
*:
- Net Sales increased 26.5% to $405.5
million
- Organic sales grew 4.6% on constant
currency
- GAAP EPS improved 3.8% to $0.27
- Adjusted EPS increased 16.1% to
$0.36
- Net Income increased 6.8% to $23.4
million, with EBITDA expanding 14.5% to $64.0 million
- Capital structure refinanced, enhancing
financial flexibility and reducing interest rates.
- Full-year 2018 guidance maintained for
non-GAAP Adjusted EPS, Adjusted EBITDA, and Adjusted Free Cash Flow
from Operations Conversion.
*Comparative information is relative to prior-year first
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 first quarter ended March 31, 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 5,680 associates globally and reported
2017 sales of $1.4 billion.
Conference Call
Ferro will conduct an investor teleconference at 10:00 a.m. EDT
Wednesday, May 2, 2018. Investors can access this conference via
any of 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 800-918-9482
within the U.S. or +1 212-231-2911 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 May 2, 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 21887436).
- 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/20180501006816/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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