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Ferro: 3Q Earnings Snapshot

·1 min read

MAYFIELD HEIGHTS, Ohio (AP) _ Ferro Corp. (FOE) on Wednesday reported third-quarter earnings of $14.5 million.

On a per-share basis, the Mayfield Heights, Ohio-based company said it had profit of 17 cents. Earnings, adjusted for one-time gains and costs, were 19 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.

The specialty chemicals maker posted revenue of $241.9 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $227.3 million.

Ferro expects full-year earnings in the range of 71 cents to 76 cents per share.

Ferro shares have dropped 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.32, an increase of 10% in the last 12 months.

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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