Ferro Reports Third Quarter 2018 Results
Strong Organic Growth and Momentum toward Vision 2020 Continues
Third Quarter Financial and Operating Highlights *:
Net Sales increased 12.9% to
- Organic sales grew 7.3% on a constant currency basis
GAAP EPS declined 29.6% to
$0.19, while Adjusted EPS improved 12.1% to $0.37
Cash flows from operating activities expanded 267% to
Adjusted Free Cash Flow expanded 280% to
$79.1 million $27.5 millionof common stock repurchased from the beginning of 2018 through November 7. Board has authorized an additional $50 millionrepurchase
- Full year 2018 guidance reaffirmed at lower end of range for Adjusted EPS and Adjusted EBITDA and at upper end of range for Adjusted Free Cash Flow Conversion.
*Comparative information is relative to prior-year third quarter.
The results and guidance in this release, including in the highlights above, contain references to non-GAAP measures from continuing operations. Reconciliation of GAAP to non-GAAP results can be found at the end of the earnings release.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181108006005/en/
Ferro will conduct an investor teleconference at
- Webcast can be accessed by clicking on the Investors link at the top of Ferro’s website at ferro.com.
- Live telephone: Call 800-909-7944 within the U.S. or +1 212-231-2935 outside the U.S. Please join the call at least 10 minutes before the start time.
Webcast replay: Available in the Investors section of Ferro’s website
at ferro.com beginning at approximately 12:00
noon Eastern Timeon November 9, 2018
- 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 21891850).
- Presentation material & podcast: Earnings presentation material and podcasts can be accessed through the Investors section of the Company’s website at ferro.com.
Kevin Cornelius Grant, 216-875-5451
Head of Investor Relations
Mary Abood, 216-875-5401
Director, Corporate Communications