$MTRN
MATERION Corp

2024 Q3 Form 10-Q Financial Statement

#000110465724000146 Filed on October 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $436.7M
YoY Change 8.35%
Cost Of Revenue $355.8M
YoY Change 13.26%
Gross Profit $80.94M
YoY Change -8.99%
Gross Profit Margin 18.53%
Selling, General & Admin $35.01M
YoY Change -9.78%
% of Gross Profit 43.25%
Research & Development $7.868M
YoY Change 24.45%
% of Gross Profit 9.72%
Depreciation & Amortization $18.59M
YoY Change 23.3%
% of Gross Profit 22.97%
Operating Expenses $42.88M
YoY Change -4.99%
Operating Profit $31.26M
YoY Change -14.41%
Interest Expense -$8.839M
YoY Change -215.12%
% of Operating Profit -28.28%
Other Income/Expense, Net $642.0K
YoY Change -6.28%
Pretax Income $23.06M
YoY Change -21.9%
Income Tax $768.0K
% Of Pretax Income 3.33%
Net Earnings $22.29M
YoY Change -16.07%
Net Earnings / Revenue 5.1%
Basic Earnings Per Share $1.07
Diluted Earnings Per Share $1.07
COMMON SHARES
Basic Shares Outstanding 20.75M shares
Diluted Shares Outstanding 20.92M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.87M
YoY Change 8.99%
Cash & Equivalents $17.87M
Short-Term Investments
Other Short-Term Assets $86.31M
YoY Change 56.93%
Inventory $476.6M
Prepaid Expenses
Receivables $214.6M
Other Receivables $0.00
Total Short-Term Assets $795.4M
YoY Change 12.09%
LONG-TERM ASSETS
Property, Plant & Equipment $526.1M
YoY Change 5.88%
Goodwill $321.1M
YoY Change 0.54%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $26.38M
YoY Change -2.95%
Total Long-Term Assets $1.062B
YoY Change 2.18%
TOTAL ASSETS
Total Short-Term Assets $795.4M
Total Long-Term Assets $1.062B
Total Assets $1.857B
YoY Change 6.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $130.3M
YoY Change 39.97%
Accrued Expenses $48.85M
YoY Change 20.84%
Deferred Revenue
YoY Change
Short-Term Debt $37.54M
YoY Change -2.83%
Long-Term Debt Due $37.54M
YoY Change -2.83%
Total Short-Term Liabilities $252.8M
YoY Change 16.4%
LONG-TERM LIABILITIES
Long-Term Debt $457.8M
YoY Change 7.6%
Other Long-Term Liabilities $12.51M
YoY Change 8.26%
Total Long-Term Liabilities $470.3M
YoY Change 7.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $252.8M
Total Long-Term Liabilities $470.3M
Total Liabilities $723.1M
YoY Change 10.53%
SHAREHOLDERS EQUITY
Retained Earnings $900.8M
YoY Change 7.54%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $259.2M
YoY Change 9.24%
Treasury Stock Shares
Shareholders Equity $931.9M
YoY Change
Total Liabilities & Shareholders Equity $1.857B
YoY Change 6.2%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income $22.29M
YoY Change -16.07%
Depreciation, Depletion And Amortization $18.59M
YoY Change 23.3%
Cash From Operating Activities $5.087M
YoY Change -63.66%
INVESTING ACTIVITIES
Capital Expenditures $12.32M
YoY Change -60.89%
Acquisitions
YoY Change
Other Investing Activities $34.00K
YoY Change
Cash From Investing Activities -$12.29M
YoY Change -61.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.726M
YoY Change -61.57%
NET CHANGE
Cash From Operating Activities 5.087M
Cash From Investing Activities -12.29M
Cash From Financing Activities 6.726M
Net Change In Cash -472.0K
YoY Change
FREE CASH FLOW
Cash From Operating Activities $5.087M
Capital Expenditures $12.32M
Free Cash Flow -$7.232M
YoY Change -58.67%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei City Area Code
CityAreaCode
216
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Transition Report
DocumentTransitionReport
false
dei Entity Registrant Name
EntityRegistrantName
MATERION CORPORATION
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
OH
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
34-1919973
dei Entity Address Address Line1
EntityAddressAddressLine1
6070 Parkland Blvd
dei Entity Address City Or Town
EntityAddressCityOrTown
Mayfield Heights
dei Document Type
DocumentType
10-Q
dei Entity File Number
EntityFileNumber
001-15885
dei Security12b Title
Security12bTitle
Common Stock, no par value
dei Trading Symbol
TradingSymbol
MTRN
dei Security Exchange Name
SecurityExchangeName
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dei Entity Current Reporting Status
EntityCurrentReportingStatus
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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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CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20640000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20611000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
212000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
280000 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20920000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20891000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.70
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.27
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.65
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
117693000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
268717000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
55187000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
441597000 usd
CY2023 us-gaap Notional Amount Of Nonderivative Instruments
NotionalAmountOfNonderivativeInstruments
351500000 usd
CY2024Q3 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
0 usd
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
12359000 usd
us-gaap Derivative Term Of Contract
DerivativeTermOfContract
P4Y
CY2024Q3 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
4400000 usd
CY2024Q3 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
241375000 usd
CY2024Q3 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
247500000 usd
CY2023Q4 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
270000000 usd
CY2024Q3 us-gaap Bank Overdrafts
BankOverdrafts
0 usd
CY2023Q4 us-gaap Bank Overdrafts
BankOverdrafts
3825000 usd
CY2024Q3 us-gaap Other Long Term Debt
OtherLongTermDebt
8499000 usd
CY2024Q3 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
497374000 usd
CY2024Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
37542000 usd
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
459832000 usd
CY2024Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2076000 usd
CY2024Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
457756000 usd
CY2024Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
127000000 usd
CY2024Q3 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
247500000 usd
CY2023Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
270000000 usd
CY2024Q3 mtrn Assets Held For Sale Transaction Not Part Of Disposal Group
AssetsHeldForSaleTransactionNotPartOfDisposalGroup
5000000 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

Files In Submission

Name View Source Status
mtrn-20240927_cal.xml Edgar Link unprocessable
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0001104657-24-000146.txt Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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mtrn-20240927.htm Edgar Link pending
mtrn-20240927.xsd Edgar Link pending
mtrn-ex311_2024q310q.htm Edgar Link pending
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mtrn-20240927_def.xml Edgar Link unprocessable
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mtrn-20240927_htm.xml Edgar Link completed
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