Materion reports record 2023 adjusted EPS $5.64; guides 2024 $6.10-$6.50

MATERION Corp

2023-FY EPS reported $4.58 revenue$1,665,187,000

Q4 net sales $421M, adjusted EPS $1.41 (vs $1.49 prior year); full-year record adj. EPS $5.64.
Full-year 2023 value-added sales $1.13B (record); adj. EBITDA $217.7M at 19.3% margin (records).
Secured $36M order for space propulsion materials and $4M government additive manufacturing contract.
2024 adjusted EPS guidance $6.10-$6.50, up 12% at midpoint from 2023 record $5.64.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

MATERION Corp updated its the fourth quarter and full year 2023 guidance (reaffirmed).

Period: the fourth quarter and full year 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On February 15, 2024, Materion Corporation issued a press release announcing its results for the fourth quarter and full year 2023. The press release is attached hereto as Exhibit 99.1, which is incorporated herein by reference.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MATERION Corp reported Fourth Quarter 2023 results: revenue $421.0 million, net income $19.5 million, EPS $0.93 per share, diluted, and adjusted earnings of $1.41 per share.

Period: Fourth Quarter 2023
Revenue: $421.0 million
Net income: $19.5 million
EPS: $0.93 per share, diluted, and adjusted earnings of $1.41 per share
Result: reported results

Exact text from the filing

Net sales were $421.0 million; value-added sales 1 were $289.7 million • Net income was $19.5 million, or $0.93 per share, diluted, and adjusted earnings of $1.41 per share

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MATERION Corp reported Full-Year 2023 results: revenue $1.67 billion, net income $95.7 million, EPS $4.58 per share, diluted, versus $4.14 in the prior year, and record adjusted earnings of $5.64 per share, versus $5.27. Guidance raised.

Period: Full-Year 2023
Revenue: $1.67 billion
Net income: $95.7 million
EPS: $4.58 per share, diluted, versus $4.14 in the prior year, and record adjusted earnings of $5.64 per share, versus $5.27
Guidance: raised
Result: reported results

Exact text from the filing

Net sales were $1.67 billion; value-added sales were $1.13 billion, a record for the company, up 1% from prior year despite significant semiconductor market weakness • Net income of $95.7 million, versus $86.0 million in the prior year • Earnings per share of $4.58, diluted, versus $4.14 in the prior year, and record adjusted earnings of $5.64 per share, versus $5.27 in the prior year, an increase of 7%

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MATERION Corp filing history →

Source: SEC EDGAR

accession 0001104657-24-000015

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