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Tile Coatings Systems moved to Discontinued Operations following agreement to sell

Fourth Quarter Continuing Operations *:

  • Net Sales declined 7.7% to $245.9M
  • Gross Profit of $75.3M, Gross Profit Margin of 30.6%
  • Adjusted Gross Profit Margin of 31.0%
  • GAAP diluted EPS of $(0.03), Adjusted EPS of $0.17
  • Net Loss1 of $2.2M
  • Adjusted EBITDA of $37.4M, Adjusted EBITDA Margin of 15.2%

Full Year Continuing Operations *:

  • Net Sales declined 5.9% to $1,018.4M
  • Gross Profit of $308.8M, Gross Profit Margin of 30.3%
  • Adjusted Gross Profit Margin of 31.0%
  • GAAP diluted EPS of $0.41, Adjusted EPS of $0.83
  • Net Income1 of $34.3M
  • Adjusted EBITDA of $158.9M, Adjusted EBITDA Margin of 15.6%

*Comparative information is relative to prior-year fourth quarter and full year Continuing Operations.

1 Note: Net Income (Loss) attributable to Ferro Corporation common shareholders.

CLEVELAND–(BUSINESS WIRE)–Ferro Corporation (NYSE: FOE), a leading global supplier of technology-based functional coatings and color solutions, today reported results for the fourth quarter ended December 31, 2019. 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: Performance Colors and Glass and Color Solutions. Headquartered in Mayfield Heights, Ohio, the Company has approximately 5,900 associates globally and reported 2019 sales of $1.0 billion. Included within our employee count are approximately 2,100 employees in our foreign consolidated subsidiaries associated with the Tile Coatings Systems business.

Conference Call

Ferro will conduct an investor teleconference at 8:00 a.m. ET Tuesday March 3, 2020. Investors can access this conference via any of the following:

  • Webcast can be accessed by clicking on the Investors link at the top of Ferro’s website at ferro.com.
  • Live telephone: Call 800-672-1506 within the U.S. or +1 303-223-2698 outside the U.S. Please join the call at least 10 minutes before the start time.
  • Webcast replay: Available on Ferro’s Investor website at ferro.com beginning at approximately 4:30 p.m. Eastern Time on March 3, 2020.
  • Telephone replay: Call 800-633-8284 within the U.S. or +1 402-977-9140 outside the U.S. (for both U.S. and outside the U.S. access code is 21952346).
  • Presentation material and podcast: Earnings presentation material and podcasts can be accessed through the Investors portion of the Company’s website at ferro.com.

 

Contacts

Investor Contact:
Kevin Cornelius Grant, 216.875.5451

Director of Investor Relations and Corporate Communications

[email protected]