Free Post Earnings Research Report: Ferro’s Q4 Top-Line Surged 34.2% Y-O-Y
Stock Monitor: OMNOVA Solutions Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 09, 2018 / Active-Investors.com has just released a free earnings report on Ferro Corp. (NYSE: FOE). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FOE. The Company released its financial results on February 28, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company's net sales and adjusted operating earnings grew 34.2% and 7.4% y-o-y, respectively; topping market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for OMNOVA Solutions Inc. (NYSE: OMN), which also belongs to the Basic Materials sector as the Company Ferro. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Ferro most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
During the three months ended December 31, 2017, Ferro reported net sales of $377.54 million, which came in above the $281.34 million recorded at the end of Q4 FY16. Moreover, the Company's net sales numbers outperformed market expectations of $338.23 million.
The specialty chemicals Company reported a loss from continuing operations of $8.55 million, or $0.10 loss per diluted share, in Q4 FY17 compared to a loss from continuing operations of $20.60 million, or $0.25 loss per diluted share, in the prior year's same period. The Company's adjusted net income attributable to common shareholders grew to $24.56 million, or $0.29 per diluted share, in Q4 FY17 from $22.67 million, or $0.27 per diluted share, in Q4 FY16. Meanwhile, Wall Street had expected the Company to report an adjusted net income of $0.28 per diluted share.
The Cleveland, Ohio-based Company's net sales came in at $1.40 billion during the full year FY17 compared to $1.15 billion in FY16. The Company's income from continuing operations grew to $57.77 million, or $0.68 per diluted share, in FY17 from $44.56 million, or $0.51 per diluted share, in FY16. The Company posted an adjusted net income attributable to common shareholders of $110.22 million, or $1.29 per diluted share, in FY17, rising from $92.93 million, or $1.09 per diluted share, in the last year.
Operating Metrics
In the reported quarter, Ferro's adjusted cost of sales was $269.54 million, up from $193.36 million in Q4 FY16. The Company's total adjusted gross profit came in at $108.01 million, or 28.6% of net sales, in Q4 FY17 versus $90.94 million, or 31.3% of net sales, in the year ago comparable period. The Company spent $67.74 million on adjusted selling, general, and administrative expenses (SG&A) in Q4 FY17 compared to $54.15 million in Q4 FY16. The Company's adjusted operating profit increased to $40.27 million, or 10.7% of net sales, during Q4 FY17 from $36.79 million, or 12.7% of net sales, in the fourth quarter of FY16. Furthermore, the Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) stood at $54.31 million, or 14.4% of net sales, in Q4 FY17 versus $45.22 million, or 16.1% of net sales, in Q4 FY16.
Segment Performance
Ferro's Performance Coatings segment's net sales grew to $169.48 million in the reported quarter from $127.82 million in Q4 FY16. Additionally, the segment's adjusted gross profit also increased to $42.70 million in Q4 FY17 from $36.81 million in Q4 FY16.
During Q4 FY17, the Company's Performance Colors and Glass segment reported net sales of $123.92 million, rising from $94.57 million Q4 FY16. Moreover, the segment's adjusted gross profit came in at $42.70 million in Q4 FY17 compared to $36.81 million in Q4 FY16.
Ferro's Color Solutions segment's net sales were $84.14 million in Q4 FY17 versus $58.95 million in Q4 FY16. Additionally, the segment's gross profit came in at $26.15 million in Q4 FY17 compared to $18.87 million in Q4 FY16.
Cash Flow and Balance Sheet
During Q4 FY17, Ferro's net cash flow provided by operating activities was $50.10 million compared to $55.89 million in the year ago corresponding quarter. At the close of books on December 31, 2017, Ferro had a cash and cash equivalents balance of $63.55 million versus $45.58 million at the close of books on December 31, 2016. Additionally, the Company's long-term debt increased to $726.49 million as on December 31, 2017, from $557.18 million as on December 31, 2016.
Earnings Guidance
For the full year FY18, Ferro expects net sales to grow in the range of 13.0% to 13.5% y-o-y. The Company's adjusted EBITDA is forecasted to be in the range of $270 million to $275 million, while its adjusted EPS is projected to be in the band of $1.55 to $1.60 for FY18.
Stock Performance Snapshot
April 06, 2018 - At Friday's closing bell, Ferro's stock declined 1.30%, ending the trading session at $23.51.
Volume traded for the day: 640.07 thousand shares, which was above the 3-month average volume of 425.42 thousand shares.
Stock performance in the previous six-month period – up 4.26%; and past twelve-month period – up 55.59%
After last Friday's close, Ferro's market cap was at $1.97 billion.
Price to Earnings (P/E) ratio was at 25.44.
The stock is part of the Basic Materials sector, categorized under the Specialty Chemicals industry.
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