Materion ( (MTRN) ) has provided an update.
Materion Corporation has lowered its full-year adjusted earnings per share guidance for 2024 to $5.20-$5.40 due to slower than expected order rates in the semiconductor and industrial sectors. Despite anticipating growth, the company is facing prolonged high customer inventories and a delay in the expected market recovery. Additionally, aerospace and automotive forecasts are down, leading to an estimated 5% drop in second-half value-added sales. To combat these declines, Materion has taken steps to control costs and remains on track to achieve strong adjusted EBITDA margins. The company emphasizes that this guidance is adjusted for non-routine items and provides a clearer picture of its operational profitability.
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