Ferro has reported results for the fourth quarter ended 31 December 2017
Net sales increased 34.2%; organic sales growth 9.2%; GAAP diluted EPS; adjusted EPS increased 7.4%; net income improved; adjusted EBITDA grew.
Ferro Corporation, a leading global supplier of technology-based functional coatings and colour solutions, has reported results for the fourth quarter ended 31 December 2017.
Fourth quarter financial and operating highlights include net sales increased 34.2% to USD 377.5M, organic sales growth was 9.2% on a constant currency basis, GAAP diluted EPS improved to a loss of USD 0.10 versus a loss of USD 0.25, adjusted EPS increased 7.4% to USD 0.29, net income improved to a loss of USD 8.7M compared to a loss of USD 20.9M, adjusted EBITDA grew 20.1% to USD 54.3M.
Full Year Financial and Operating Highlights show: net sales increased 22.0% to USD 1,396.7M, organic sales growth was 7.3% on a constant currency basis, GAAP diluted EPS improved to USD 0.67 versus a loss of USD 0.25, adjusted EPS increased 18.3% to USD 1.29, net Income improved to USD 57.1M compared to a loss of USD 20.8M, adjusted EBITDA grew 20.3% to USD 234.2M.
Ferro supplies functional coatings for glass, metal, ceramic and other substrates and colour solutions in the form of specialty pigments and colorants for a broad range of industries and applications. Ferro products are sold into the building and construction, automotive, electronics, industrial products, household furnishings and appliance markets. The company’s reportable segments include: Performance Coatings (metal and ceramic coatings), Performance Colors and Glass (glass coatings), and Color Solutions. Headquartered in Mayfield Heights, Ohio, the company has approximately 5,680 associates globally and reported 2017 sales of USD 1.4 billion.