Materion Q1 2023 Earnings Report
Key Takeaways
Materion Corporation reported a strong first quarter in 2023, marked by double-digit organic sales and earnings growth. The company's value-added sales increased by 15% year-over-year, reaching a record $298.6 million. Due to this Materion raised its adjusted earnings per share outlook for 2023.
Net sales were $442.5 million; value-added sales increased 15% year over year to a first quarter record of $298.6 million
Operating profit was $36.9 million; adjusted EBITDA was $53.4 million, or 17.9% of value-added sales, a 70-basis point margin expansion year over year
Net income of $1.23 per share, diluted; adjusted earnings per share of $1.34, another first quarter record
Raised adjusted earnings per share outlook to $5.60 - $6.00/share on strong performance expectations
Materion
Materion
Materion Revenue by Segment
Forward Guidance
Materion is increasing its expected adjusted earnings per share range to $5.60 to $6.00, from a previously shared range of $5.50 to $5.90, an increase of 10% at the midpoint versus the prior year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income