2023-05-03 06:50:52 ET
- Materion press release ( NYSE: MTRN ): Q1 Non-GAAP EPS of $1.34 beats by $0.06 .
- Revenue of $442.5M (-1.5% Y/Y) misses by $4.6M .
- Adjusted EBITDA was $53.4 million in the quarter, compared to $44.6 million in the prior year.
- Outlook: Despite challenges surrounding the macroeconomic environment, we remain confident in our ability to execute and deliver another year of record results. With our strong start to the year coupled with our revised outlook, we are increasing our expected adjusted earnings per share range to $5.60 to $6.00, from our previously shared range of $5.50 to $5.90 vs. consensus of $5.68, an increase of 10% at the midpoint versus the prior year.
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Materion reports mixed Q1 earnings; raises 2023 outlook