Ferro Reports Fourth Quarter and Full Year 2018 Results
February 27 2019 - 4:22PM
Business Wire
Delivers Strong Year-over-Year Performance;
Provides 2019 Guidance
Fourth Quarter Financial and Operating Highlights
*:
- Net Sales increased 4.7% to
$395.5M
- Organic salescc grew 3.6%
- GAAP diluted EPS improved to $0.13
versus a loss of $0.10
- Adjusted EPS increased 13.8% to
$0.33
- Net Income1 improved to $11.0M compared
to a loss of $8.7M
- Adjusted EBITDA grew 6.4% to
$56.1M
- Net Cash provided by Operating
Activities increased 193.6% to $141.7M
- Adjusted Free Cash Flow Conversion of
178.9%
Full Year Financial and Operating Highlights
*:
- Net Sales increased 15.4% to
$1,612.4M
- Organic salescc grew 5.2%
- GAAP diluted EPS increased 40.3% to
$0.94
- Adjusted EPS increased 16.3% to
$1.50
- Net Income1 increased 40.4% to
$80.1M
- Adjusted EBITDA grew 12.0% to
$259.1M
- Net Cash provided by Operating
Activities increased 115.6% to $182.8M
- Adjusted Free Cash Flow Conversion of
50.9%
*Comparative information is relative to prior-year fourth
quarter and prior year.
1 Net Income attributable to Ferro Corporation common
shareholders.
cc Constant Currency
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, 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 6,100 associates globally and
reported 2018 sales of $1.6 billion.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20190227005971/en/
Conference Call
Ferro will conduct an investor teleconference at 8:00 a.m. EST
Thursday, February 28, 2019. Investors can access this conference
via any of the following:
- Webcast can be accessed by clicking on
the Investors link at the top of Ferro’s website at ferro.com.
- Live telephone: Call 800-698-9012
within the U.S. or +1 303-223-2691 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 4:30 p.m.
Eastern Time on February 28, 2019.
- 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 21916423).
- Presentation material & podcast:
Earnings presentation material and podcasts can be accessed through
the Investors portion of the Company’s Web site at ferro.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190227005971/en/
Investor Contact:Kevin Cornelius Grant, 216.875.5451Head
of Investor Relations and Corporate
Communicationskevincornelius.grant@ferro.com
Media Contact:Mary Abood, 216.875.5401Director, Corporate
Communicationsmary.abood@ferro.com
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