Ferro reports third quarter 2018 results

Strong organic growth and momentum toward Vision 2020 continues in Ferro’s third-quarter results.

Ferro's third-quarter results reported strong organic growth

In its third-quarter results, Ferro reported:

  • Net Sales increased 12.9% to USD 395.2 million
  • Organic sales grew 7.3% on a constant currency basis
  • GAAP EPS declined 29.6% to USD 0.19, while Adjusted EPS improved 12.1% to USD 0.37
  • Cash flows from operating activities expanded 267% to USD 73.4 million
  • Adjusted Free Cash Flow expanded 280% to USD 79.1 million
  • USD 27.5 million of common stock repurchased from the beginning of 2018 through November 7. Board has authorized an additional USD 50 million repurchase
  • Full year 2018 guidance reaffirmed at lower end of range for Adjusted EPS and Adjusted EBITDA and at upper end of range for Adjusted Free Cash Flow Conversion.

Ferro Corporation, a leading global supplier of technology-based functional coatings and colour solutions, reported results for the third quarter ended 30 September 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 5,850 associates globally and reported 2017 sales of USD 1.4 billion.

www.ferro.com