Ferro Corp. (FOE) Tops Q1 EPS by 14c, Revenues Beat; Withdraws FY20 Guidance

Ferro Corp. (NYSE: FOE) reported Q1 EPS of $0.26, $0.14 better than the analyst estimate of $0.12. Revenue for the quarter came in at $252.3 million versus the consensus estimate of $246.32 million.

• Gross Profit Margin and earnings increased year-over-year.
• Company positioned with strong liquidity. Full-year guidance withdrawn.

First Quarter Continuing Operations*:

• Net Sales declined 4.2% to $252.3M
• Net Sales declined 2.4% on a constant currency basis
• Gross Profit increased 3.7% to $80.7M, Gross Profit Margin improved 240 bps to 32.0%
• Adjusted Gross Profit increased 5.4% to $81.9M, Adjusted Gross Profit Margin improved 240 bps to 32.5%
• GAAP diluted EPS increased 90% to $0.19
• Adjusted diluted EPS increased 73.3% to $0.26
• Net Income 1 increased 18.5% to $16.1M
• Adjusted EBITDA increased 18.2% to $40.7M, Adjusted EBITDA Margin improved 300 bps to 16.1%

For earnings history and earnings-related data on Ferro Corp. (FOE) click here.

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