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Ferro: 1Q Earnings Snapshot

MAYFIELD HEIGHTS, Ohio (AP) _ Ferro Corp. (FOE) on Wednesday reported first-quarter profit of $13.6 million.

On a per-share basis, the Mayfield Heights, Ohio-based company said it had net income of 16 cents. Earnings, adjusted for one-time gains and costs, were 22 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The specialty chemicals maker posted revenue of $387.5 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $394.5 million.

Ferro expects full-year earnings in the range of $1.35 to $1.45 per share.

Ferro shares have risen 14% since the beginning of the year. The stock has fallen 19% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FOE at https://www.zacks.com/ap/FOE