Ferro Corp. (FOE) Tops Q1 EPS by 14c, Revenues Beat; Withdraws FY20 Guidance
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Ferro Reports Strong First Quarter 2020 Profitability
May 11, 2020 4:05 PM EDTGross 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 Full-year guidance withdrawn.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... More