Materion Q2 2024 Earnings Report
Key Takeaways
Materion Corporation reported record second quarter 2024 financial results, with net sales of $425.9 million and adjusted earnings per share of $1.42. The company has updated its full-year adjusted earnings per share guidance to $5.60-$5.90.
Net sales reached $425.9 million, with value-added sales hitting a second-quarter record of $279.8 million, up 4% year-over-year.
Net income was $19.0 million, or $0.91 per share, diluted; adjusted earnings were $1.42 per share, a 3% increase year-over-year.
Adjusted EBITDA reached a record $57.8 million for the quarter, compared to $55.5 million in the prior year.
Full-year adjusted earnings per share range was updated to $5.60–5.90, a 2% increase from the prior year at the midpoint.
Materion
Materion
Materion Revenue by Segment
Forward Guidance
Despite a softening outlook in semiconductor, automotive, and industrial end-market demand, Materion remains confident in its ability to deliver another year of record results. The company is revising its full-year 2024 adjusted earnings per share range to $5.60 to $5.90, an increase of 2% from the prior year at the midpoint.
Positive Outlook
- Continued to win new business.
- Drove operational improvements throughout the company.
- Confident in ability to execute.
- Confident to deliver another year of record results.
- Adjusted earnings per share range is revised to $5.60 to $5.90.
Challenges Ahead
- Outlook for semiconductor demand has softened.
- Outlook for automotive end-market demand has softened.
- Outlook for industrial end-market demand has softened.
- Lowering the top end of guidance.
- Unable to reconcile forecasted range of adjusted earnings guidance for the full year to a comparable GAAP range without unreasonable effort.
Revenue & Expenses
Visualization of income flow from segment revenue to net income