Ferro Corporation (FOE) Releases Earnings Results, Beats Expectations By $0.07 EPS

Ferro Corporation (FOE) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.34 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.27. The company posted revenue of $297.97 million in the period, compared to analysts expectations of $304.00 million. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Ferro Corporation opened for trading at $12.98 and hit $13.21 on the upside on Thursday, eventually ending the session at $13.07, with a gain of 7.04% or 0.86 points. The heightened volatility saw the trading volume jump to 19,46,678 shares. Company has a market cap of $1,087 M.

In a different news, on Dec 18, 2015, Ann Killian (Vice President, Human Resource) sold 30,000 shares at $10.99 per share price. According to the SEC, on Nov 13, 2015, Ronald P Vargo (director) purchased 10,000 shares at $11.60 per share price. On Sep 15, 2015, David A Lorber (director) purchased 10,000 shares at $12.23 per share price, according to the Form-4 filing with the securities and exchange commission.

Ferro Corporation (Ferro) produces performance materials for a range of manufacturers in diversified industries throughout the world. The Company uses inorganic and organic chemical processes polymer science and materials science to develop and produce these performance materials. It operates approximately 33 facilities around the world that manufacture performance materials and performance chemicals. The Company’s performance materials include frits porcelain and other glass enamels glazes stains decorating colors pigments inks polishing materials specialty dielectrics electronic glasses and other specialty coatings. Ferro operates through four segments: Tile Coating Systems Porcelain Enamel Performance Colors and Glass and Pigments Powders and Oxides. Ferro’s products are used in a variety of product applications in markets including appliances household furnishings automobiles industrial products building and renovation and packaging.

Ferro Corporation

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