Ferro (FOE) Earnings Surpass Estimates In Q3, Revenues Lag
Zacks Investment Research | Nov 13, 2019 06:10AM ET
Ferro Corporation (NYSE:FOE) posted a profit (attributable to common shareholders) of $12.8 million or 16 cents per share for third-quarter 2019, down around 20% from $16.1 million or 19 cents a year ago.
Barring one-time items, earnings were 35 cents per share for the quarter, topping the Zacks Consensus Estimate of 29 cents.
The company recorded revenues of $365.7 million for the quarter, down around 7% year over year. The top line was impacted by reduced volumes and mix as well as unfavorable product pricing and currency swings. Sales also fell short of the Zacks Consensus Estimate of $371.3 million. The company saw lower sales across its segments in the quarter.
Ferro Corporation Price, Consensus and EPS Surprise
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Zacks Rank & Stocks to Consider
Ferro currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth a look in the basic materials space include Agnico Eagle Mines Limited (NYSE:AEM) , Kirkland Lake Gold Ltd. (TSX:KL) and Franco-Nevada Corporation (TSX:FNV) , all sporting a Zacks Rank #1 (Strong Buy). You can see Zacks Investment Research
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