Ferro’s second quarter 2018 results have been released
GAAP EPS increased 40% to USD 0.35 and adjusted EPS increased 18.9% TO USD 0.44; acquisitions that supplement and expand current portfolio of technologies made, setting stage for future growth.
Second quarter financial and operating highlights in Ferro’s second quarter 2018 results show:
* GAAP EPS increased 40.0% to USD 0.35
* Adjusted EPS increased 18.9% to USD 0.44
* Net Sales increased 19.4% to USD 416.2 million
* Net Income increased 41.1% to USD 29.7 million, with EBITDA expanding 17.9% to USD 75.2 million
* Full-year 2018 non-GAAP guidance reaffirmed, despite currency headwinds
* Organic sales grew 5.4% on constant currency
Ferro Corporation, a leading global supplier of technology-based functional coatings and colour solutions, has reported results for the second quarter ended 30 June 2018. Ferro Corporation supplies functional coatings for glass, metal, ceramic and other substrates and colour 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 Coatings (metal and ceramic coatings), Performance Colors and Glass (glass coatings), and Color Solutions. Headquartered in Mayfield Heights, Ohio, the company has approximately 5,620 associates globally and reported 2017 sales of USD 1.4 billion.