CORRECTING and REPLACING MULTIMEDIA Ferro Corporation Reports Fourth Quarter and Full Year 2021 Results
Fourth Quarter Continuing Operations*:
-
Net Sales increased 2.5% to$266.3M , or 4.4% on a constant currency basis -
Gross Profit decreased 9.9% to
$71.3M , Gross Profit Margin of 26.8% - Adjusted Gross Profit Margin of 26.9%
-
GAAP diluted EPS of
$0.30 , Adjusted diluted EPS of$0.30 -
Net Income from continuing operations of
$25.7M , Adjusted EBITDA of$39.8M - Adjusted EBITDA Margin of 14.9%
Full Year Continuing Operations *:
-
Net Sales increased 17.4% to$1,126.3M , or 15.4% on a constant currency basis -
Gross Profit increased 17.3% to
$344.6M , Gross Profit Margin of 30.6% - Adjusted Gross Profit Margin of 31.1%
-
GAAP diluted EPS of
$0.86 , Adjusted diluted EPS of$1.28 -
Net Income from continuing operations of
$73.3M , Adjusted EBITDA increased 30.3% to$200.3M - Adjusted EBITDA Margin improved 176 bps to 17.8%
*Comparative information is relative to prior-year fourth quarter and full year for Continuing Operations
Ferro will not host a Fourth Quarter and Full Year 2021 Earnings teleconference call
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220301005866/en/
The release reads:
FERRO CORPORATION REPORTS FOURTH QUARTER AND FULL YEAR 2021 RESULTS
Fourth Quarter Continuing Operations*:
-
Net Sales increased 2.5% to$266.3M , or 4.4% on a constant currency basis -
Gross Profit decreased 9.9% to
$71.3M , Gross Profit Margin of 26.8% - Adjusted Gross Profit Margin of 26.9%
-
GAAP diluted EPS of
$0.30 , Adjusted diluted EPS of$0.30 -
Net Income from continuing operations of
$25.7M , Adjusted EBITDA of$39.8M - Adjusted EBITDA Margin of 14.9%
Full Year Continuing Operations *:
-
Net Sales increased 17.4% to$1,126.3M , or 15.4% on a constant currency basis -
Gross Profit increased 17.3% to
$344.6M , Gross Profit Margin of 30.6% - Adjusted Gross Profit Margin of 31.1%
-
GAAP diluted EPS of
$0.86 , Adjusted diluted EPS of$1.28 -
Net Income from continuing operations of
$73.3M , Adjusted EBITDA increased 30.3% to$200.3M - Adjusted EBITDA Margin improved 176 bps to 17.8%
*Comparative information is relative to prior-year fourth quarter and full year for Continuing Operations
Ferro will not host a Fourth Quarter and Full Year 2021 Earnings teleconference call
View source version on businesswire.com: https://www.businesswire.com/news/home/20220301005866/en/
Investor Contact:
Director of Investor Relations and Corporate Communications
kevincornelius.grant@ferro.com
Source: