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Materion Corp (MTRN) SEC Filing 10-Q Quarterly Report for the period ending Friday, July 2, 2021

Materion Corp

CIK: 1104657 Ticker: MTRN
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MATERION CORPORATION REPORTS STRONG SECOND QUARTER FINANCIAL RESULTS AND RAISES FULL YEAR OUTLOOK

MAYFIELD HEIGHTS, Ohio – August 3, 2021 - Materion Corporation (NYSE: MTRN), a world leader in high performing advanced materials, today reported strong second quarter financial results and raised its 2021 outlook.

Second Quarter 2021 Highlights

Net sales were $371.0 million compared to $271.5 million in the prior year period; value-added sales increased 31% year on year to a record $207.9 million for the quarter

Operating profit of $20.7 million; adjusted earnings before interest and taxes (EBIT) was $22.1 million, or 10.6% of value-added sales, a 260 basis point margin expansion year-over-year

Net income of $0.87 per share, diluted; adjusted earnings of $0.86 per share, an increase of 91% compared to $0.45 in the prior year period

Construction of new leading-edge manufacturing facility for customer funded engineered precision clad strip project nears completion; continuing to ship product from existing facility

Full Year 2021 Outlook

Full year outlook raised to $3.25 – $3.45, an increase of 65% versus prior year at the midpoint

“We posted exceptional results in the second quarter, with above market revenue growth, meaningful margin expansion and strong earnings,” said Jugal Vijayvargiya, President and Chief Executive Officer. “I am very proud of our team’s focus and dedication to serving our customers’ strong demand while continuing to execute on our key strategic initiatives. Based on our first half performance, continued market strength and a robust organic pipeline, we are increasing our outlook for the remainder of the year.”

SECOND QUARTER 2021 RESULTS
Net sales for the second quarter were $371.0 million, compared to $271.5 million in the prior year period. Value-added sales of $207.9 million were a record for any quarter, up 31% from the prior year quarter. Strong performance across several key end markets, including semiconductor, automotive, industrial, and consumer electronics drove the value-added sales
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The following information was filed by Materion Corp (MTRN) on Tuesday, August 3, 2021 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.

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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
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Earnings Per Share
Earnings Per Share (Details 1)
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Materion Corp provided additional information to their SEC Filing as exhibits

Ticker: MTRN
CIK: 1104657
Form Type: 10-Q Quarterly Report
Accession Number: 0001104657-21-000078
Submitted to the SEC: Tue Aug 03 2021 2:57:21 PM EST
Accepted by the SEC: Tue Aug 03 2021
Period: Friday, July 2, 2021
Industry: Metal Forgings And Stampings

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