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Materion Corp (MTRN) SEC Filing 10-Q Quarterly Report for the period ending Friday, July 1, 2022

Materion Corp

CIK: 1104657 Ticker: MTRN
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Materion Corporation Reports Record Second Quarter Results and

Affirms Full Year 2022 Outlook

MAYFIELD HEIGHTS, Ohio - August 3, 2022 - Materion Corporation (NYSE: MTRN), a world leader in high performance advanced materials, today reported record second quarter financial results, affirmed 2022 earnings guidance and shared an update on key strategic initiatives.

Second Quarter 2022 Highlights
Net sales were $445.3 million; value-added sales increased 33% year over year to a record $277.2 million
Operating profit was $31.9 million; adjusted earnings before interest, taxes, depreciation, depletion and amortization (EBITDA) was a record $47.0 million, an increase of 44% and a 120-basis point margin expansion year over year
Net income of $1.12 per share, diluted; adjusted earnings per share (EPS) of $1.28, an all-time record, up 41% year over year
Recent Organic Growth Developments
Established a new advanced chemicals facility to accelerate growth in semiconductor and electric vehicle applications
Leading EV battery customer is funding $6M to establish a prototype line to produce advanced chemicals for their next-generation battery solutions
Materion and Kairos jointly commissioned a Molten Salt Purification Plant for use in clean energy production

“Our global team delivered an exceptional first half of the year with another record quarter of value-added sales and earnings,” Jugal Vijayvargiya, Materion President & Chief Executive Officer said. “Our organic outgrowth initiatives and strategic acquisitions combined with strong end market demand are accelerating the transformation of our company into a leading provider of advanced materials solutions.”
“Our relentless focus on commercial excellence, strong customer partnerships and investments in R&D are coming together as planned resulting in a fantastic pipeline of opportunities that will continue to deliver above market growth,” Vijayvargiya continued. “Our substantial organic initiatives, coupled with the HCS-Electronic Materials acquisition, which continues to exceed expectations, strengthened our performance during the quarter and enhances our ability to deliver on several exciting opportunities ahead of us.”

SECOND QUARTER 2022 RESULTS
Net sales for the second quarter of 2022 were $445.3 million, compared to $371.0 million in the prior year period. Value-added sales of $277.2 million were a quarterly record, up 33% from the prior year. In addition to the benefit of the HCS-Electronic Materials acquisition, value-added sales were up 12% organically, driven by strong performance across several major end markets including semiconductor, industrial, aerospace and energy.
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The following information was filed by Materion Corp (MTRN) on Wednesday, August 3, 2022 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

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (Parenthetical)
Accounting Policies
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Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Detail)
Accumulated Other Comprehensive Income (Loss) (Tables)
Acquisition
Acquisition (Tables)
Acquisition - Additional Information (Details)
Acquisition - Finite-Lived And Indefinite-Lived Intangible Assets Acquired As Part Of Business Combination (Details)
Acquisition - Pro Forma Information (Details)
Acquisition - Schedule Of Business Acquisitions, By Acquisition (Details)
Contingencies
Contingencies (Detail)
Customer Prepayments
Customer Prepayments (Details)
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt - Schedule Of Long-Term Debt Instruments (Details)
Derivative Instruments And Hedging Activity
Derivative Instruments And Hedging Activity (Tables)
Derivative Instruments And Hedging Activity - Additional Information (Details)
Derivative Instruments And Hedging Activity - Derivative Instruments Nonhedging (Details)
Derivative Instruments And Hedging Activity - Derivative Instruments, Gain (Loss) (Details)
Derivative Instruments And Hedging Activity - Fair Value Measurements, Recurring And Nonrecurring (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Details)
Earnings Per Share - Schedule Of Earnings Per Share, Basic And Diluted (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Detail)
Fair Value Of Financial Instruments (Tables)
Income Taxes
Income Taxes (Details)
Inventories
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Inventories - Additional Information (Details)
Inventories - Summary Of Inventories (Detail)
Other-Net
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Pensions And Other Post-Employment Benefits
Pensions And Other Post-Employment Benefits (Detail)
Pensions And Other Post-Employment Benefits (Tables)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - (Details)
Revenue Recognition - Additional Information (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Disaggregation Of Revenue (Details)
Segment Reporting - Segment Reporting (Details)
Stock-Based Compensation Expense
Stock-Based Compensation Expense (Tables)
Stock-Based Compensation Expense - Additional Information (Details)
Stock-Based Compensation Expense - Schedule Of Share Based Payment Award Sars Valuation Assumptions (Detail)

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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: 0001104657-22-000126
Submitted to the SEC: Wed Aug 03 2022 3:03:34 PM EST
Accepted by the SEC: Wed Aug 03 2022
Period: Friday, July 1, 2022
Industry: Metal Forgings And Stampings

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