Last10K.com

Materion Corp (MTRN) SEC Filing 10-Q Quarterly report for the period ending Friday, March 27, 2020

Materion Corp

CIK: 1104657 Ticker: MTRN



materionlogoa36.jpg
NEWS RELEASE


MATERION CORPORATION REPORTS FIRST QUARTER 2020 FINANCIAL RESULTS

MAYFIELD HEIGHTS, Ohio - April 23, 2020 - Materion Corporation (NYSE:MTRN) today reported first quarter 2020 financial results and progress on key strategic initiatives.


Net sales were $277.9 million; value-added sales were $158.7 million

Net loss of $0.15 per share, diluted; adjusted earnings of $0.43 per share

Record first quarter cash level of $107.6 million

Entered into a business arrangement with a large, new customer for future product supply

Announcing intent to sell Large Area Coatings business to continue portfolio optimization

Closing two facilities to further reduce structural cost

“We are well-positioned to manage the unprecedented market challenges and uncertainty due to the COVID-19 pandemic. Our number one priority continues to be the health and safety of our people, and we are taking all necessary precautions,” stated Jugal Vijayvargiya, President and Chief Executive Officer. “At the same time, we are continuing to operate all of our manufacturing facilities in support of essential industries and are aggressively managing the cost structure to align with market demand. We have more than adequate liquidity to operate in this difficult environment.”

Jugal Vijayvargiya continued, “Despite the challenging economic environment, we executed on three significant strategic actions during the quarter, the most exciting being a significant business relationship with a large global customer for precision clad engineered strip product. Secondly, we announced the planned sale of the Large Area Coatings (LAC) business as part of our strategic focus to align the portfolio to drive sustainable profitable growth. And finally, we initiated actions to close two facilities and consolidate the business within an existing facility to further drive down

1

The following information was filed by Materion Corp (MTRN) on Thursday, April 23, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Materion Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Materion Corp.

Continue

Assess how Materion Corp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Materion Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Rating

Learn More
Bullish Bearish Neutral
Filter by Sentiment:
All
Positive
Negative
Filter by Category:
All
Financial
Revenue
Other
Filter by Subcategory:
All
Expense
Shares
Income
Product
Earnings
Cash Flow
Debt
Other
Inside Materion Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of (Loss) Income
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive (Loss) Income
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (Parenthetical)
Accounting Policies
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Detail)
Accumulated Other Comprehensive Income (Tables)
Basis Of Accounting (Policies)
Contingencies
Contingencies (Detail)
Customer Prepayments
Customer Prepayments (Details)
Derivative Instruments And Hedging Activity
Derivative Instruments And Hedging Activity (Details - Designated As Hedges)
Derivative Instruments And Hedging Activity (Details - Not Designated As Hedges)
Derivative Instruments And Hedging Activity (Details - Reclassificatoins From Aoci)
Derivative Instruments And Hedging Activity Derivative Instruments And Hedging Activity (Details - Foreign Currency Derivatives Recorded In Earnings)
Derivative Instruments And Hedging Activity Tables (Tables)
Earnings Per Share
Earnings Per Share (Details 1)
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Detail)
Fair Value Of Financial Instruments (Tables)
Goodwill
Goodwill (Detail)
Goodwill (Details 1)
Goodwill (Tables)
Held For Sale
Held For Sale (Details Textual)
Held For Sale (Details)
Held For Sale (Tables)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Detail)
Inventories (Details 1)
Inventories (Tables)
New Pronouncements (Policies)
Other-Net
Other-Net (Detail)
Other-Net (Tables)
Pensions And Other Post-Employment Benefits
Pensions And Other Post-Employment Benefits (Detail 1)
Pensions And Other Post-Employment Benefits (Detail)
Pensions And Other Post-Employment Benefits (Tables)
Restructuring
Restructuring (Details)
Revenue Recognition
Revenue Recognition (Details 1)
Revenue Recognition (Details 2)
Revenue Recognition (Details)
Revenue Recognition (Tables)
Revenue Recognition Accounting Policy (Policies)
Segment Reporting
Segment Reporting (Detail)
Segment Reporting (Details 1)
Segment Reporting (Tables)
Stock-Based Compensation Expense
Stock-Based Compensation Expense (Detail)
Stock-Based Compensation Expense Tables (Tables)
Stock-Based Compensation Expense Textual (Details)
Ticker: MTRN
CIK: 1104657
Form Type: 10-Q Quarterly Report
Accession Number: 0001104657-20-000043
Submitted to the SEC: Thu Apr 23 2020 11:47:14 AM EST
Accepted by the SEC: Thu Apr 23 2020
Period: Friday, March 27, 2020
Industry: Metal Forgings And Stampings

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/mtrn/0001104657-20-000043.htm