FOE
$8.13
Ferro
($.06)
(.73%)
Earnings Details
Quarter December 2019
Monday, March 02, 2020 4:34:00 PM
Tweet Share Watch
Summary

Ferro (FOE) Recent Earnings

Ferro (FOE) reported Quarter December 2019 earnings of $0.17 per share on revenue of $245.9 million. The consensus earnings estimate was $0.28 per share on revenue of $356.8 million. Revenue fell 37.8% compared to the same quarter a year ago.

Ferro Corp is a producer of specialty materials and chemicals that are sold to the manufacturers who, in turn, make products for many end-use markets. It offers electronic materials, color and glass performance materials, pigments, powders & oxides.

Results
Reported Earnings
$0.17
Earnings Whisper
-
Consensus Estimate
$0.28
Reported Revenue
$245.9 Mil
Revenue Estimate
$356.8 Mil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

Ferro Reports Fourth Quarter and Full Year 2019 Results

Tile Coatings Systems moved to Discontinued Operations following agreement to sell

Fourth Quarter Continuing Operations *:

  • Net Sales declined 7.7% to $245.9M
  • Gross Profit of $75.3M, Gross Profit Margin of 30.6%
  • Adjusted Gross Profit Margin of 31.0%
  • GAAP diluted EPS of $(0.03), Adjusted EPS of $0.17
  • Net Loss1 of $2.2M
  • Adjusted EBITDA of $37.4M, Adjusted EBITDA Margin of 15.2%

Full Year Continuing Operations *:

  • Net Sales declined 5.9% to $1,018.4M
  • Gross Profit of $308.8M, Gross Profit Margin of 30.3%
  • Adjusted Gross Profit Margin of 31.0%
  • GAAP diluted EPS of $0.41, Adjusted EPS of $0.83
  • Net Income1 of $34.3M
  • Adjusted EBITDA of $158.9M, Adjusted EBITDA Margin of 15.6%

*Comparative information is relative to prior-year fourth quarter and full year Continuing Operations.

1 Note: Net Income (Loss) attributable to Ferro Corporation common shareholders.

CLEVELAND--(BUSINESS WIRE)--Ferro Corporation (NYSE: FOE), a leading global supplier of technology-based functional coatings and color solutions, today reported results for the fourth quarter ended December 31, 2019. Ferro Corporation (www.ferro.com) is a leading global supplier of technology-based functional coatings and color solutions. Ferro 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 Colors and Glass and Color Solutions. Headquartered in Mayfield Heights, Ohio, the Company has approximately 5,900 associates globally and reported 2019 sales of $1.0 billion. Included within our employee count are approximately 2,100 employees in our foreign consolidated subsidiaries associated with the Tile Coatings Systems business.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200302005989/en/

Conference Call

Ferro will conduct an investor teleconference at 8:00 a.m. ET Tuesday March 3, 2020. 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.
  • Live telephone: Call 800-672-1506 within the U.S. or +1 303-223-2698 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 March 3, 2020.
  • 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 21952346).
  • Presentation material and podcast: Earnings presentation material and podcasts can be accessed through the Investors portion of the Company’s website at ferro.com.

 

Investor Contact:
Kevin Cornelius Grant, 216.875.5451
Director of Investor Relations and Corporate Communications
kevincornelius.grant@ferro.com

Source: Ferro Corporation