Second Quarter 2018 Net Sales Increase 19.4% for Ferro
Ferro’s net sales increased 19.4% to reach $416.2 million, while net income increased 41.1% to $29.7 million.
Ferro Corp. recently released its financial results for the 2018 second quarter, ended June 30, 2018. Net sales increased 19.4% to reach $416.2 million, while net income increased 41.1% to $29.7 million and EBITDA expanded 17.9% to $75.2 million.
“Ferro reported $0.44 of adjusted earnings per share,” said Peter Thomas, chairman, president and CEO. “This was our eighth consecutive quarter of organic growth, and all three business units contributed to the strong results. Ferro’s innovation initiatives resulted in approximately 20% of our revenue in the quarter coming from our new product program pipeline. And our optimization initiatives helped us offset raw material price inflation through product pricing and reformulation.
“We also continued our momentum in corporate development, making acquisitions that bring to Ferro products with technologies that are excellent additions to our current portfolio and that expand our opportunities for further dynamic innovation and optimization.”
Additional details are available at www.ferro.com.