Materion Corp. (MTRN) Tops Q3 EPS by 13c, Miss on Revenues; Lifts FY18 EPS Guidance Above Consensus

Materion Corp. (NYSE: MTRN) reported Q3 EPS of $0.68, $0.13 better than the analyst estimate of $0.55. Revenue for the quarter came in at $297.2 million versus the consensus estimate of $305.88 million.

• Net sales for the third quarter 2018 were $297.2 million, compared to $294.3 million for the third quarter 2017.
• Third quarter 2018 value-added sales were $181.9 million, up 6% from $171.4 million in the prior year third quarter.
• Third quarter 2018 net income was $0.97 per share, diluted, compared to $0.46 per share in the prior year third quarter.
• Record adjusted earnings of $0.68 per share, diluted, were up 36% for third quarter 2018 compared to $0.50 per share in the third quarter 2017.
• The Company is raising its full-year adjusted earnings guidance range to $2.20 to $2.30 per share, diluted, representing an approximate 30% year-over-year increase.

“This quarter’s performance represents record level operating profit, operating profit percentage of value-added sales and adjusted earnings. We have now delivered seven consecutive quarters of year-over-year value-added sales and earnings growth. We are delivering on our commitment to consistently deliver profitable growth. Our multi-pillar strategy is working,” stated Jugal Vijayvargiya, President and Chief Executive Officer. “We remain optimistic on our sales growth and performance improvements across the Company. As a result, for the second time this year, we are raising our full-year adjusted earnings guidance to $2.20 to $2.30 per share.”

GUIDANCE:

Materion Corp. sees FY2018 EPS of $2.20-$2.30, versus the consensus of $2.14.

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

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