Ferro Corp. Revises 2019 Guidance - Quick Facts

(RTTNews) - Ferro Corp. (FOE) said the company now expects fiscal 2019 adjusted earnings per share in a range of $1.17 to $1.27. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.38. Analysts' estimates typically exclude special items.

The company's decision to lower guidance for the second half of 2019 results from an accumulation of macro-economic conditions, including uncertainty related to international trade, as well as higher manufacturing costs associated with transitioning to a more optimized manufacturing footprint.

For the second-quarter, adjusted EPS was $0.35, down 20.5% from prior year. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.33, for the quarter.

Second-quarter net sales declined by 5.4% to $393.9 million. Net sales on a constant currency basis declined by 2.0%. Analysts expected revenue of $415.32 million, for the quarter.