Materion Q3 2021 Earnings Report
Key Takeaways
Materion Corporation reported record third quarter financial results, with net sales of $388.0 million and adjusted earnings of $1.10 per share. The company raised its full year adjusted earnings outlook to $3.73 - $3.83.
Net sales were $388.0 million compared to $287.2 million in the prior-year period
Value-added sales increased 31% year on year to a record $215.8 million for the quarter
Adjusted EBIT was a record at $27.8 million, or 12.9% of value-added sales, a 430-basis point margin expansion year-over-year
Record adjusted earnings of $1.10 per share, an increase of 120% compared to $0.50 in the prior-year period
Materion
Materion
Materion Revenue by Segment
Forward Guidance
The Company expects the positive momentum to continue into the fourth quarter with an estimated $0.95 to $1.05 adjusted earnings per share for the quarter, an increase of 43% from the prior-year quarter, at the midpoint. This results in an improved full-year 2021 adjusted earnings estimate in the range of $3.73 to $3.83 per diluted share. The midpoint of the revised guidance represents an 86% increase from the prior year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income