CORRECTING and REPLACING MULTIMEDIA Ferro Corporation Reports Fourth Quarter and Full Year 2021 Results
March 01 2022 - 9:07PM
Business Wire
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
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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
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:
Functional Coatings and Color Solutions. Headquartered in Mayfield
Heights, Ohio, the Company has approximately 3,600 associates
globally and reported 2021 sales of $1,126 million.
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version on businesswire.com: https://www.businesswire.com/news/home/20220301005866/en/
Investor Contact: Kevin Cornelius Grant, 216.875.5451
Director of Investor Relations and Corporate Communications
kevincornelius.grant@ferro.com
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