$MTRN
Materion Corp

2024 Q2 Form 10-Q Financial Statement

#000110465724000116 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4
Revenue $425.9M $421.0M
YoY Change 6.85% -3.11%
Cost Of Revenue $345.0M $341.3M
YoY Change 11.47% 1.54%
Gross Profit $80.86M $79.72M
YoY Change -9.2% -19.0%
Gross Profit Margin 18.99% 18.93%
Selling, General & Admin $33.60M $39.86M
YoY Change -13.65% -12.92%
% of Gross Profit 41.56% 50.0%
Research & Development $7.702M $6.442M
YoY Change 7.66% -6.38%
% of Gross Profit 9.53% 8.08%
Depreciation & Amortization $16.51M $15.14M
YoY Change 0.98% 6.55%
% of Gross Profit 20.42% 19.0%
Operating Expenses $41.30M $51.45M
YoY Change -20.7% -12.7%
Operating Profit $32.06M $28.27M
YoY Change -13.27% -28.42%
Interest Expense -$8.903M -$8.503M
YoY Change 13.98% 21.98%
% of Operating Profit -27.77% -30.08%
Other Income/Expense, Net $640.0K $569.0K
YoY Change -11.85% -67.26%
Pretax Income $23.90M $19.71M
YoY Change -15.93% -40.91%
Income Tax $4.864M $238.0K
% Of Pretax Income 20.35% 1.21%
Net Earnings $19.04M $19.47M
YoY Change -20.95% -32.32%
Net Earnings / Revenue 4.47% 4.62%
Basic Earnings Per Share $0.92
Diluted Earnings Per Share $0.91 $0.93
COMMON SHARES
Basic Shares Outstanding 20.74M shares
Diluted Shares Outstanding 20.91M shares

Balance Sheet

Concept 2024 Q2 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.10M $13.29M
YoY Change 3.16% 1.47%
Cash & Equivalents $17.10M $13.29M
Short-Term Investments
Other Short-Term Assets $73.81M $61.74M
YoY Change 95.53% 58.09%
Inventory $463.0M $441.6M
Prepaid Expenses
Receivables $185.2M $192.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $739.1M $709.4M
YoY Change 5.92% 2.74%
LONG-TERM ASSETS
Property, Plant & Equipment $528.1M $514.7M
YoY Change -4.56% 14.69%
Goodwill $319.8M $320.9M
YoY Change -0.15% 0.43%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $25.92M $21.66M
YoY Change -8.69% -3.87%
Total Long-Term Assets $1.065B $1.053B
YoY Change 2.39% 5.17%
TOTAL ASSETS
Total Short-Term Assets $739.1M $709.4M
Total Long-Term Assets $1.065B $1.053B
Total Assets $1.804B $1.763B
YoY Change 3.81% 4.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $117.3M $125.7M
YoY Change -5.32% 16.46%
Accrued Expenses $40.57M $45.77M
YoY Change 88.25% -16.77%
Deferred Revenue
YoY Change
Short-Term Debt $38.77M $38.60M
YoY Change 82.88%
Long-Term Debt Due $38.77M $38.60M
YoY Change 41.11% 82.88%
Total Short-Term Liabilities $227.5M $255.0M
YoY Change -2.47% 6.71%
LONG-TERM LIABILITIES
Long-Term Debt $446.0M $387.6M
YoY Change 4.56% -5.67%
Other Long-Term Liabilities $12.49M $13.30M
YoY Change -93.84% 9.19%
Total Long-Term Liabilities $458.5M $400.9M
YoY Change -27.13% -5.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $227.5M $255.0M
Total Long-Term Liabilities $458.5M $400.9M
Total Liabilities $686.0M $655.9M
YoY Change -22.98% -0.93%
SHAREHOLDERS EQUITY
Retained Earnings $881.3M $854.3M
YoY Change 8.29% 11.04%
Common Stock $328.8M $309.5M
YoY Change 8.39% 7.43%
Preferred Stock
YoY Change
Treasury Stock (at cost) $258.6M $237.7M
YoY Change 9.37% 7.64%
Treasury Stock Shares
Shareholders Equity $907.1M $885.1M
YoY Change
Total Liabilities & Shareholders Equity $1.804B $1.763B
YoY Change 3.81% 4.18%

Cashflow Statement

Concept 2024 Q2 2023 Q4
OPERATING ACTIVITIES
Net Income $19.04M $19.47M
YoY Change -20.95% -32.32%
Depreciation, Depletion And Amortization $16.51M $15.14M
YoY Change 0.98% 6.55%
Cash From Operating Activities $20.28M $59.91M
YoY Change -37.43% -26.71%
INVESTING ACTIVITIES
Capital Expenditures $22.14M $25.28M
YoY Change -33.06% 8.15%
Acquisitions
YoY Change
Other Investing Activities $179.0K $254.0K
YoY Change -9.14% 1004.35%
Cash From Investing Activities -$21.96M -$25.02M
YoY Change -33.2% 7.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.903M -38.55M
YoY Change 140.35% -42.38%
NET CHANGE
Cash From Operating Activities 20.28M 59.91M
Cash From Investing Activities -21.96M -25.02M
Cash From Financing Activities 5.903M -38.55M
Net Change In Cash 4.224M -3.658M
YoY Change 111.41% -56.97%
FREE CASH FLOW
Cash From Operating Activities $20.28M $59.91M
Capital Expenditures $22.14M $25.28M
Free Cash Flow -$1.858M $34.64M
YoY Change 183.66% -40.67%

Facts In Submission

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dei Entity Registrant Name
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<div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior year amounts have been reclassified to conform with the current year presentation. These reclassifications had no effect on the reported results of operations, cash flows or financial position. Specifically, the net sales related to the previously disclosed precision clad strip project have been reclassified from the other end market to the consumer electronics end market within Note B.</span></div>
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2466000 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2700000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5300000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2800000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5200000 usd
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
21800000 usd
CY2024Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
5106000 usd
CY2023Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
4899000 usd
CY2024Q2 us-gaap Foreign Currency Contract Asset Fair Value Disclosure
ForeignCurrencyContractAssetFairValueDisclosure
702000 usd
CY2023Q4 us-gaap Foreign Currency Contract Asset Fair Value Disclosure
ForeignCurrencyContractAssetFairValueDisclosure
615000 usd
CY2024Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
13247000 usd
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
12359000 usd
CY2024Q2 us-gaap Liabilities Related To Investment Contracts Fair Value Disclosure
LiabilitiesRelatedToInvestmentContractsFairValueDisclosure
5106000 usd
CY2023Q4 us-gaap Liabilities Related To Investment Contracts Fair Value Disclosure
LiabilitiesRelatedToInvestmentContractsFairValueDisclosure
4899000 usd
CY2024Q2 us-gaap Foreign Currency Contracts Liability Fair Value Disclosure
ForeignCurrencyContractsLiabilityFairValueDisclosure
357000 usd
CY2023Q4 us-gaap Foreign Currency Contracts Liability Fair Value Disclosure
ForeignCurrencyContractsLiabilityFairValueDisclosure
1500000 usd
CY2024Q2 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
5912000 usd
CY2023Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
7980000 usd
CY2024Q2 mtrn Foreign Currency Gain Loss Related To Derivatives
ForeignCurrencyGainLossRelatedToDerivatives
-100000 usd
mtrn Foreign Currency Gain Loss Related To Derivatives
ForeignCurrencyGainLossRelatedToDerivatives
400000 usd
CY2023Q2 mtrn Foreign Currency Gain Loss Related To Derivatives
ForeignCurrencyGainLossRelatedToDerivatives
-200000 usd
mtrn Foreign Currency Gain Loss Related To Derivatives
ForeignCurrencyGainLossRelatedToDerivatives
-400000 usd
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
4600000 usd
CY2024Q2 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
4400000 usd
CY2023Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
4600000 usd
CY2024Q2 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
222375000 usd
CY2023Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
149250000 usd
CY2024Q2 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
255000000 usd
CY2023Q4 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
270000000 usd
CY2024Q2 us-gaap Bank Overdrafts
BankOverdrafts
0 usd
CY2023Q4 us-gaap Bank Overdrafts
BankOverdrafts
3825000 usd
CY2024Q2 us-gaap Other Long Term Debt
OtherLongTermDebt
9704000 usd
CY2023Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
5918000 usd
CY2024Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
487079000 usd
CY2023Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
428993000 usd
CY2024Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
38765000 usd
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
38597000 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
448314000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
390396000 usd
CY2024Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2324000 usd
CY2023Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2820000 usd
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
445990000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
387576000 usd
CY2024Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
105500000 usd
CY2024Q2 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
255000000.0 usd
CY2023Q4 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
270000000.0 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001104657-24-000116.txt Edgar Link pending
0001104657-24-000116-xbrl.zip Edgar Link pending
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