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Jun 28, 2024
Materion Q2 2024 Earnings Report
Materion's Q2 2024 financial results were released, showcasing record performance and updated earnings guidance.
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.
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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