Ferro Corporation reports Second Quarter 2021 results

Ferro will not host a Second Quarter 2021 Earnings teleconference call

Ferro Corporation, a leading global supplier of technology-based functional coatings and colour solutions, released its Second Quarter 2021 financial results.

Second Quarter Continuing Operations

  • Net Sales increased 43.7% to 294.3 million USD, or 37.3% on a constant currency basis
  • Gross Profit increased 48.8% to 94.8 million USD, Gross Profit Margin improved 110 bps to 32.2%
  • Adjusted Gross Profit Margin improved 40 bps to 32.8%
  • GAAP diluted EPS of 0.20 USD, Adjusted diluted EPS of 0.35 USD
  • Income from continuing operations of 17.4 million USD, Adjusted EBITDA increased 90.1% to 58.7 million USD
  • Adjusted EBITDA Margin improved 490 bps to 20.0%

Year to Date Continuing Operations

  • Net Sales increased 27.5% to 582.7 million USD, or 22.4% on a constant currency basis
  • Gross Profit increased 31.5% to 189.9 million USD, Gross Profit Margin improved 100 bps to 32.6%
  • Adjusted Gross Profit Margin improved 90 bps to 33.3%
  • GAAP diluted EPS of 0.42 USD, Adjusted diluted EPS of 0.73 USD
  • Income from continuing operations of $36.0M, Adjusted EBITDA increased 62.6% to 116.5 million USD
  • Adjusted EBITDA Margin improved 430 bps to 20.0%

View the full release here.