Tile Coatings Systems moved to Discontinued Operations following agreement to sell
Fourth Quarter Continuing Operations *:
- Net Sales declined 7.7% to $245.9M
- Gross Profit of $75.3M, Gross Profit Margin of 30.6%
- Adjusted Gross Profit Margin of 31.0%
- GAAP diluted EPS of $(0.03), Adjusted EPS of $0.17
- Net Loss1 of $2.2M
- Adjusted EBITDA of $37.4M, Adjusted EBITDA Margin of 15.2%
Full Year Continuing Operations *:
- Net Sales declined 5.9% to $1,018.4M
- Gross Profit of $308.8M, Gross Profit Margin of 30.3%
- Adjusted Gross Profit Margin of 31.0%
- GAAP diluted EPS of $0.41, Adjusted EPS of $0.83
- Net Income1 of $34.3M
- Adjusted EBITDA of $158.9M, Adjusted EBITDA Margin of 15.6%
*Comparative information is relative to prior-year fourth quarter and full year Continuing Operations.
1 Note: Net Income (Loss) attributable to Ferro Corporation common shareholders.
CLEVELAND–(BUSINESS WIRE)–Ferro Corporation (NYSE: FOE), a leading global supplier of technology-based functional coatings and color solutions, today reported results for the fourth quarter ended December 31, 2019. Ferro Corporation (www.ferro.com) is a leading global supplier of technology-based functional coatings and color solutions. Ferro supplies functional coatings for glass, metal, ceramic and other substrates and color 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 Colors and Glass and Color Solutions. Headquartered in Mayfield Heights, Ohio, the Company has approximately 5,900 associates globally and reported 2019 sales of $1.0 billion. Included within our employee count are approximately 2,100 employees in our foreign consolidated subsidiaries associated with the Tile Coatings Systems business.
Conference Call
Ferro will conduct an investor teleconference at 8:00 a.m. ET Tuesday March 3, 2020. Investors can access this conference via any of the following:
- Webcast can be accessed by clicking on the Investors link at the top of Ferro’s website at ferro.com.
- Live telephone: Call 800-672-1506 within the U.S. or +1 303-223-2698 outside the U.S. Please join the call at least 10 minutes before the start time.
- Webcast replay: Available on Ferro’s Investor website at ferro.com beginning at approximately 4:30 p.m. Eastern Time on March 3, 2020.
- Telephone replay: Call 800-633-8284 within the U.S. or +1 402-977-9140 outside the U.S. (for both U.S. and outside the U.S. access code is 21952346).
- Presentation material and podcast: Earnings presentation material and podcasts can be accessed through the Investors portion of the Company’s website at ferro.com.
Contacts
Investor Contact:
Kevin Cornelius Grant, 216.875.5451
Director of Investor Relations and Corporate Communications
kevincornelius.grant@ferro.com
