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Jul 02, 2021
Materion Q2 2021 Earnings Report
Materion reported strong second-quarter results, driven by above-market revenue growth and margin expansion.
Key Takeaways
Materion Corporation reported strong second quarter financial results, with net sales of $371.0 million and adjusted earnings of $0.86 per share. The company raised its full-year outlook, expecting continued market strength and a robust organic pipeline.
Net sales reached $371.0 million, compared to $271.5 million in the prior year period.
Value-added sales increased 31% year-on-year to a record $207.9 million for the quarter.
Operating profit was $20.7 million, with adjusted EBIT at $22.1 million, or 10.6% of value-added sales.
Adjusted earnings were $0.86 per share, a 91% increase compared to $0.45 in the prior year period.
Revenue by Segment
Forward Guidance
The company expects adjusted earnings per diluted share in the third quarter to be in the range of $0.80 to $0.84. Full-year 2021 adjusted earnings are expected to be $3.25 to $3.45 per diluted share.
Positive Outlook
- Strength in organic pipeline
- Good underlying demand across end markets
- Adjusted earnings per diluted share in Q3 expected to increase 64% from Q3 2020 at the midpoint
- Full-year 2021 adjusted earnings expected to increase 65% from the prior year at the midpoint
- Continued execution on key strategic initiatives
Challenges Ahead
- Potential insurance and litigation claims
- Legacy environmental costs
- Acquisition and integration costs
- Certain income tax items
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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