Materion cuts FY2024 adjusted EPS guidance to $5.20-$5.40 citing slower order rates

MATERION Corp

2024-Q3 EPS reported $2.61 revenue$1,247,868,000

Full year 2024 adjusted EPS guidance revised to $5.20–$5.40 from prior range.
H2 2024 value-added sales expected ~5% lower than prior expectations due to slower order rates.
Semiconductor recovery slower than planned; customer inventories high; industrial rebound not materialized; aerospace/auto build rates reduced.
Company implementing additional cost controls; expects adjusted EBITDA margins above 20% mid-term target.

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