Materion Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 01, 2023 at 06:45 am EDT
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Materion Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 403.07 million compared to USD 428.19 million a year ago. Net income was USD 26.56 million compared to USD 19.95 million a year ago. Basic earnings per share from continuing operations was USD 1.29 compared to USD 0.97 a year ago. Diluted earnings per share from continuing operations was USD 1.27 compared to USD 0.96 a year ago.
For the nine months, sales was USD 1,244.14 million compared to USD 1,322.53 million a year ago. Net income was USD 76.23 million compared to USD 57.23 million a year ago. Basic earnings per share from continuing operations was USD 3.7 compared to USD 2.79 a year ago. Diluted earnings per share from continuing operations was USD 3.65 compared to USD 2.76 a year ago.
Materion Corporation provides advanced materials solutions for various industries, including semiconductor, industrial, aerospace and defense, energy and automotive. The Companyâs segments include Performance Materials, Electronic Materials, Precision Optics, and Other. Performance Materials segment provides advanced engineered solutions comprised of beryllium and non-beryllium containing alloy systems and custom engineered parts in strip, bulk, rod, plate, bar, tube, and other customized shapes produced at manufacturing facilities located throughout the United States and Europe. Electronic Materials segment produces advanced chemicals, microelectronics packaging, precious metal, non-precious metal, and specialty metal products, including vapor deposition targets, frame lid assemblies, clad and precious metal pre-forms, high temperature braze materials, and ultrapure wire. Precision Optics segment designs and produces precision thin film coatings, optical filters, and assemblies.