Materion Q3 sales rise 28% but miss estimates
Overview
US advanced materials supplier's Q3 net sales rose 28% yr/yr but missed analyst expectations
Adjusted EPS for Q3 beat analyst expectations
Company raised full-year adjusted EPS outlook, citing record backlog and strong demand
Outlook
Materion raises full-year adjusted EPS guidance to $7.10-$7.40
Company expects higher Q4 sales driven by record backlog and strong demand
Materion cites record backlog and order momentum supporting 2026 outlook
Result Drivers
SEMICONDUCTOR SALES - Co said record quarterly semiconductor sales and growth in aerospace & defense and telecom & data center markets drove value-added sales
VOLUME AND PRICE/MIX - Higher sales volumes and improved price/mix contributed to margin expansion, per co
ORDER BACKLOG - Co said incoming orders and backlog reached all-time highs, supporting outlook
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | Miss | $567.30 mln | $611.38 mln (5 Analysts) |
Q3 Adjusted EPS | Beat | $1.93 | $1.89 (6 Analysts) |
Q3 Net Income | $38.30 mln | ||
Q3 Adjusted EBITDA | Slight Miss* | $70.70 mln | $70.84 mln (5 Analysts) |
Q3 Operating Profit | $50.40 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the diversified mining peer group is "buy"
Wall Street's median 12-month price target for Materion Corporation is $306.00, about 34.5% above its November 3 closing price of $227.43
The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 30 three months ago
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)