Materion lowers FY24 adjusted EPS view to $5.20-$5.40, consensus $5.72

In a regulatory filing last night, Materion announced that the company is revising its 2024 full year adjusted earnings per share guidance to the range of $5.20 to $5.40, as a result of lower than expected incoming order rates for the second half of 2024. “The company previously anticipated that semiconductor and industrial orders would continue the improved trajectory seen through the second quarter of 2024, but incoming order rates have developed slower than expected. The impact from a recovery in the semiconductor market is taking longer than planned, with customer inventories remaining at high levels, and the anticipated rebound in the industrial end markets has not yet materialized. The outlooks for aerospace and automotive have also been reduced due to the continued reductions in customer build rates. In total, value-added sales for the second half of 2024 are expected to be approximately 5% lower than our previous expectations,” Materion stated. In Wednesday morning trading, shares are down about 7% to $102.01.