Materion falls on Q2 sales miss

Materion

02/08/2023 16:13

** Shares of Materion  MTRN.N  down 4% at $112.22
    ** The alloys and chemicals maker posts Q2 net sales of
$398.6 mln vs. $445.3 mln year prior; missing est. of $439.8
mln- Refinitiv 
    ** MTRN says Q2 value-added sales were roughly flat at
$268.3 mln, due to expected semiconductor demand softness, but
offset by strength in aerospace & defense, telecom & data center
and precision clad strip
    ** Affirms 2023 adj earnings outlook at $5.60 - $6.00/share
    ** MTRN shares up 33.6% YTD


 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))