Materion Corp. (MTRN) Tops Q2 EPS by 4c, Slight Miss on Revenues; Boosts FY18 EPS Outlook

Materion Corp. (NYSE: MTRN) reported Q2 EPS of $0.54, $0.04 better than the analyst estimate of $0.50. Revenue for the quarter came in at $309.1 million versus the consensus estimate of $309.23 million.

• Net sales for the second quarter 2018 were $309.1 million, compared to $295.8 million for the second quarter 2017.
• Second quarter 2018 value-added sales were a record $189.9 million, up 8% from prior-year value-added sales of $176.1 million.
• Second quarter 2018 net income was $0.54 per share, diluted, compared to $0.36 per share in the prior year.
• Adjusted earnings of $0.54 per share were up 29% for second quarter 2018 compared to $0.42 per share, diluted, in the second quarter 2017.
• The Company is raising its full-year adjusted earnings guidance range to $2.00 to $2.15 per share, diluted.

“This quarter represents a sales and profit milestone for us and is the sixth consecutive quarter of both value-added sales and earnings growth. We remain focused on executing our multi-pillar strategy in the second half of 2018 and beyond to consistently deliver profitable growth,” stated Jugal Vijayvargiya, President and Chief Executive Officer. “Based on our solid first half performance and disciplined execution of our strategy, we are raising the full-year adjusted earnings guidance to $2.00 to $2.15 per share.”

OUTLOOK

The Company delivered favorable second quarter 2018 financial results for both top and bottom line, led by performance improvements, increased new product sales, and favorable end market demand. Based on these factors and current order entry levels, we are raising full-year 2018 adjusted earnings guidance from $1.95 to $2.10 per share, diluted, to $2.00 to $2.15 per share. The midpoint of the revised guidance represents an approximate 21% increase from the prior year.

GUIDANCE:

Materion Corp. sees FY2018 EPS of $2.00-$2.15, versus the consensus of $2.09.

For earnings history and earnings-related data on Materion Corp. (MTRN) click here.

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