Materion Earnings: Here’s Why the Stock is Rising Now
Materion Corp (NYSE:MTRN) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 2.28%.
Materion Corp Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 10% to $0.33 in the quarter versus EPS of $0.30 in the year-earlier quarter.
Revenue: Decreased 15.4% to $299.17 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.33 per share. By that measure, the company missed the mean analyst estimate of $0.34. It missed the average revenue estimate of $316.43 million.
Quoting Management: Richard J. Hipple, Chairman, President and CEO, stated, “After a weak fourth quarter and second half of 2012, we are off to a good start for the first quarter 2013. The actions taken in the fourth quarter of 2012, including the consolidation of several small manufacturing facilities along with other strategic initiatives, are providing the catalyst for achieving our long-term profitability goals. While I remain cautious about the global economic environment for the remainder of 2013, I am encouraged by the sequential improvement in order entry that we are seeing as well as our new product introductions and do expect sequential improvement in our earnings as the year progresses.”
Key Stats (on next page)…