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 245.9 million USD
  • Gross Profit of 75.3 million USD, Gross Profit Margin of 30.6%
  • Adjusted Gross Profit Margin of 31.0%
  • GAAP diluted EPS of (0.03) USD, Adjusted EPS of 0.17 USD
  • Net Loss1 of 2.2 million USD
  • Adjusted EBITDA of 37.4 million USD, Adjusted EBITDA Margin of 15.2%

Full Year Continuing Operations *:

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

The full report is available here.