Sign In  |  Register  |  About Los Altos  |  Contact Us

Los Altos, CA
September 01, 2020 1:26pm
7-Day Forecast | Traffic
  • Search Hotels in Los Altos

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

CORRECTING and REPLACING Ferro Corporation Reports Third Quarter 2021 Results

Third Quarter Continuing Operations*:

  • Net Sales increased 14.6% to $277.2M, or 13.3% on a constant currency basis
  • Gross Profit increased 18.8% to $83.4M, Gross Profit Margin improved 110 bps to 30.1%
  • Adjusted Gross Profit Margin improved 80 bps to 30.5%
  • GAAP diluted EPS of $0.13, Adjusted diluted EPS of $0.24
  • Net Income from continuing operations of $11.7M, Adjusted EBITDA increased 19.5% to $44.0M
  • Adjusted EBITDA Margin improved to 15.9%

Year to Date Continuing Operations *:

  • Net Sales increased 23.0% to $859.9M, or 19.3% on a constant currency basis 
  • Gross Profit increased 27.3% to $273.3M, Gross Profit Margin improved 110 bps to 31.8%
  • Adjusted Gross Profit Margin improved 90 bps to 32.4%
  • GAAP diluted EPS of $0.56, Adjusted diluted EPS of $0.97
  • Net Income from continuing operations of $47.7M, Adjusted EBITDA increased 48.0% to $160.5M
  • Adjusted EBITDA Margin improved 320 bps to 18.7%

*Comparative information is relative to prior-year third quarter and prior-year to September 30 for Continuing Operations

Ferro will not host a Third Quarter 2021 Earnings teleconference call

The bullets in the subhead have been corrected.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211103006140/en/

The updated release reads: 

FERRO CORPORATION REPORTS THIRD QUARTER 2021 RESULTS

 

Third Quarter Continuing Operations*:

  • Net Sales increased 14.6% to $277.2M, or 13.3% on a constant currency basis
  • Gross Profit increased 18.8% to $83.4M, Gross Profit Margin improved 110 bps to 30.1%
  • Adjusted Gross Profit Margin improved 80 bps to 30.5%
  • GAAP diluted EPS of $0.13, Adjusted diluted EPS of $0.24
  • Net Income from continuing operations of $11.7M, Adjusted EBITDA increased 19.5% to $44.0M
  • Adjusted EBITDA Margin improved to 15.9%

Year to Date Continuing Operations *:

  • Net Sales increased 23.0% to $859.9M, or 19.3% on a constant currency basis 
  • Gross Profit increased 27.3% to $273.3M, Gross Profit Margin improved 110 bps to 31.8%
  • Adjusted Gross Profit Margin improved 90 bps to 32.4%
  • GAAP diluted EPS of $0.56, Adjusted diluted EPS of $0.97
  • Net Income from continuing operations of $47.7M, Adjusted EBITDA increased 48.0% to $160.5M
  • Adjusted EBITDA Margin improved 320 bps to 18.7%

*Comparative information is relative to prior-year third quarter and prior-year to September 30 for Continuing Operations

Ferro will not host a Third Quarter 2021 Earnings teleconference call

Ferro Corporation (NYSE: FOE) (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: Functional Coatings and Color Solutions. Headquartered in Mayfield Heights, Ohio, the Company has approximately 3,600 associates globally and reported 2020 sales of $959 million.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 LosAltos.com & California Media Partners, LLC. All rights reserved.