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Ferro Corp (FOE.N)

FOE.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Ferro acquires technology for printing on glass substrates
Wednesday, 2 Aug 2017 08:00am EDT 

Aug 2 (Reuters) - Ferro Corp :Ferro acquires leading technology for printing on glass substrates.Ferro corp - deal for ‍$60.0 million​.Ferro corp - ferro paid $60.0 million, excluding customary adjustments and fees for dip-tech.Ferro corp - ‍company expects transaction to be accretive to earnings in 2018​.Ferro corp says transaction was funded through excess cash and borrowings under ferro's existing revolving credit facility.Ferro corp - ‍ferro expects a return on invested capital of more than 15% within first five years of acquisition​.  Full Article

Ferro reports Q2 earnings per share $0.25
Wednesday, 26 Jul 2017 04:38pm EDT 

July 26 (Reuters) - Ferro Corp :Ferro reports strong second quarter results.Q2 adjusted earnings per share $0.37 from continuing operations.Q2 earnings per share $0.25.Q2 sales $348.6 million versus I/B/E/S view $336.1 million.Q2 earnings per share view $0.33 -- Thomson Reuters I/B/E/S.Q2 adjusted earnings per share $0.25.Ferro Corp says company updates fiscal 2017 outlook.Ferro Corp - ‍company updates fiscal 2017 outlook​.Sees FY 2017 adjusted earnings per share $1.22 to $1.27.Sees 2017 adjusted free cash flow from continuing operations of $90 million - $100 million.Ferro Corp sees FY 2017 consolidated sales growth of 12.0% - 13.0%, up from 8.5% - 9.5%.Ferro Corp - "‍did experience raw material price headwinds" in Q2​.Ferro Corp - ‍Ferro is updating its full year 2017 guidance based on company's year-to-date performance and acquisition of SPC in Q2 of 2017​.Ferro - ‍If foreign exchange rates stay at June 30, levels, co estimates it would provide one to two cent tailwind to 2017 eps outlook​.FY2017 earnings per share view $1.22, revenue view $1.28 billion -- Thomson Reuters I/B/E/S.  Full Article

Ferro Corp launches program to increase manufacturing capacity in Ferro pigments business
Wednesday, 28 Jun 2017 01:28pm EDT 

June 28 (Reuters) - Ferro Corp ::Ferro launches global program to increase manufacturing capacity and optimize production of ultramarine pigments.Ferro says making investments in its Ferro pigments business to increase capacity and optimize production of its ultramarine pigments product lines.Ferro - program will be implemented globally over next 18 months.Ferro says investments will focus on equipment, technology upgrades supporting environmental/health/safety, quality, future product development objectives.  Full Article

Ferro reports Q1 earnings per share $0.26 from continuing operations
Tuesday, 25 Apr 2017 04:41pm EDT 

April 25 (Reuters) - Ferro Corp -:Ferro reports robust first quarter 2017 performance and updates full-year guidance.Q1 adjusted earnings per share $0.31 from continuing operations.Q1 earnings per share $0.26 from continuing operations.Q1 sales $320.6 million versus i/b/e/s view $300.6 million.Q1 earnings per share view $0.25 -- Thomson Reuters I/B/E/S.Sees FY adjusted earnings per share $1.17 to $1.22.Sees FY sales up 8.5 to 9.5 percent.Ferro Corp - "as we look toward remainder of 2017, we expect organic sales growth to remain in line with our prior expectations".Fy2017 earnings per share view $1.17, revenue view $1.24 billion -- Thomson Reuters I/B/E/S.Ferro Corp - sees raw material headwinds to put pressure on margins consistent with original guidance for remainder of 2017.Ferro Corp - new guidance does not include recent acquisition of spc or any additional acquisitions or divestitures in 2017.  Full Article

Ferro Corp names Benjamin Schlater as CFO
Friday, 2 Sep 2016 08:30am EDT 

Ferro Corp : Benjamin Schlater has been named vice president and chief financial officer . Benjamin Schlater succeeding Jeffrey Rutherford, who stepped down from position on September 1. .Rutherford is expected to remain with company as an advisor to Schlater through end of 2016.  Full Article

Ferro amends its senior credit agreement
Tuesday, 30 Aug 2016 04:20pm EDT 

Ferro Corp : Amended its senior credit agreement by entering into second incremental assumption agreement .Incremental agreement increases revolving loan commitment amount from $300 million to $400 million.  Full Article

BRIEF-Ferro says has sold Antwerp assets
Tuesday, 30 Aug 2016 01:56pm EDT 

Corrects headline to Ferro says "has sold Antwerp assets" from "Antwerp assets up for sale".Ferro Corp [Ferro Corp] : Says in connection with buyer's assumption of all of liabilities of Antwerp assets, made capital contribution of eur 12 million to units that previously owned the assets .Says expects transaction will result in impairment charges and other related expenses of $25 million to $30 million.  Full Article

Ferro reports Q2 adj. earnings $0.34/shr from continuing operations
Wednesday, 27 Jul 2016 04:15pm EDT 

Ferro Corp : Ferro reports increased earnings for second quarter 2016 driven by higher sales and gross profit margins . Q2 adjusted earnings per share $0.34 from continuing operations . Q2 earnings per share $0.29 from continuing operations . Q2 sales $298 million versus I/B/E/S view $304 million . Raises FY 2016 adjusted earnings per share view to $1.00 to $1.05 . Q2 earnings per share view $0.27 -- Thomson Reuters I/B/E/S . Approved new stock repurchase program to repurchase up to an additional $25 million of company's outstanding common stock . Sees FY constant currency sales growth 10.5 pct - 11.5 pct . Sees FY consolidated gross profit margin 30.5 pct - 31.0 pct . Identified "efficiency optimization opportunities" that are expected to increase profitability by $20 - $30 million annually . Identified "efficiency optimization opportunities" expected to be over next three years .FY2016 earnings per share view $0.97, revenue view $1.14 billion -- Thomson Reuters I/B/E/S.  Full Article

Ferro drawing final-round interest from Apollo, CVC - Bloomberg
Wednesday, 6 Jul 2016 01:14pm EDT 

:Ferro Corp drawing final-round interest from Apollo Global Management Llc, Cvc Capital Partners, Rhone Capital - Bloomberg, citing sources.  Full Article

Ferro Corp board explores possible strategic alternatives for company
Monday, 9 May 2016 08:37am EDT 

Ferro Corp : Board of directors is exploring possible strategic alternatives for company . Company has retained Lazard Frères & Co as its financial advisor .No decision has been made to engage in a transaction or transactions resulting from board's exploration of strategic alternatives.  Full Article

BRIEF-Ferro acquires technology for printing on glass substrates

* Ferro acquires leading technology for printing on glass substrates