Ferro Reports Second-Quarter 2019 Results
July 30 2019 - 4:34PM
Business Wire
Sales Impacted by Macro-Economic Circumstances;
Margins Increased on Sequential Basis; 2019 Guidance Updated While
Adjusted Free Cash Flow Conversion Guidance Maintained
Second Quarter Financial and Operating
Highlights *:
- Volume declined 2.1%
- Net Sales declined by 5.4% to $393.9 million
- Net Sales on a constant currency basis declined by 2.0%
- GAAP Diluted EPS of $0.13
- Adjusted EPS of $0.35
- Net Income1 of $10.9 million and Adjusted EBITDA of $62.7
million
*Comparative information is relative to prior-year second
quarter. 1 Net Income attributable to Ferro Corporation common
shareholders.
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, 2019. 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 5,870 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/20190730006055/en/
Conference Call
Ferro will conduct an investor teleconference at 8:00 a.m. EDT
Wednesday, July 31, 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.
- Webcast can be accessed by clicking on the Investors link at
the top of Ferro’s website at ferro.com.
- Live telephone: Call 888-223-4641 within the U.S. or +1
303-223-4365 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 July
31, 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 21927407).
- Presentation material and podcast: Earnings presentation
material and podcasts can be accessed through the Investors portion
of the Company’s website at ferro.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190730006055/en/
Investors & Media: Kevin Cornelius Grant,
216.875.5451 Director, Investor Relations and Corporate
Communications kevincornelius.grant@ferro.com
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