Materion reports record Q1 value-added sales up 15%; raises FY2023 adjusted EPS guidance to $5.60-$6.00

MATERION Corp

2023-Q1 EPS reported $1.23 revenue$442,526,000

Net sales $442.5M; value-added sales $298.6M (+15% YoY); adjusted EBITDA $53.4M (17.9% of value-added sales).
Diluted EPS $1.23; adjusted EPS $1.34 (record Q1).
Raised FY2023 adjusted EPS outlook to $5.60-$6.00 from $5.50-$5.90 (+10% midpoint YoY).
Awarded $12M second order for space propulsion materials (total $22M this year).
Completed first Flibe shipment to Kairos Power for next-gen clean energy.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

MATERION Corp reported the first quarter of 2023 results: revenue $442.5 million, net income $25.6 million, or $1.23 per diluted share, EPS $1.23 per diluted share. Guidance raised.

Period: the first quarter of 2023
Revenue: $442.5 million
Net income: $25.6 million, or $1.23 per diluted share
EPS: $1.23 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

(NYSE: MTRN) today reported first quarter financial results, raised 2023 earnings guidance, and shared growth highlights. First Quarter 2023 Highlights • Net sales were $442.5 million; value-added sales 1 increased 15% year over year to a first quarter record of $298.6 million • Operating profit was $36.9 million; adjusted EBITDA 2 was $53.4 million, or 17.9%

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Source: SEC EDGAR

accession 0001104657-23-000062

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