Market Overview

Ferro Reports Second Quarter 2018 Results; GAAP EPS Increased 40% to $0.35 and Adjusted EPS Increased 18.9% to $0.44

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Also Makes Acquisitions That Supplement and Expand Current Portfolio
of Technologies, Setting Stage for Future Growth

Second Quarter Financial and Operating Highlights *:

  • GAAP EPS increased 40.0% to $0.35
  • Adjusted EPS increased 18.9% to $0.44
  • Net Sales increased 19.4% to $416.2 million
  • Net Income increased 41.1% to $29.7 million, with EBITDA expanding
    17.9% to $75.2 million
  • Full-year 2018 non-GAAP guidance reaffirmed, despite currency headwinds
  • Organic sales grew 5.4% on constant currency

*Comparative information is relative to prior-year second quarter.

The results and guidance in this release, including in the highlights
above, contain references to non-GAAP measures from continuing
operations. Reconciliation of GAAP to non-GAAP results can be found at
the end of the earnings release.

Ferro Corporation (NYSE:FOE), a leading global supplier of
technology-based functional coatings and color solutions, today reported
results for the second quarter ended June 30, 2018. Ferro Corporation (www.ferro.com)
supplies functional coatings for glass, metal, ceramic and other
substrates and color solutions in the form of specialty pigments and
colorants for a broad range of industries and applications. Ferro
products are sold into the building and construction, automotive,
electronics, industrial products, household furnishings and appliance
markets. The Company's reportable segments include: Performance Coatings
(metal and ceramic coatings), Performance Colors and Glass (glass
coatings), and Color Solutions. Headquartered in Mayfield Heights, Ohio,
the Company has approximately 5,620 associates globally and reported
2017 sales of $1.4 billion.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180725005908/en/

Conference Call

Ferro will conduct an investor teleconference at 10:00 a.m. EDT
Thursday, July 26, 2018. Investors can access this conference via any of
the following:

  • Webcast can be accessed by clicking on the Investor link at the top of
    Ferro's website at ferro.com.
  • Live telephone: Call 800-909-7944 within the U.S. or +1 212-231-2935
    outside the U.S. Please join the call at least 10 minutes before the
    start time.
  • Webcast replay: Available on Ferro's Investor website at ferro.com
    beginning at approximately 12:00 noon Eastern Time on July 26, 2018
  • Telephone replay: Call 800-633-8284 within the U.S. or +1 402-977-9140
    outside the U.S. (for both U.S. and outside the U.S. access code is
    21891850).
  • Presentation material & podcast: Earnings presentation material and
    podcasts can be accessed through the Investor Information portion of
    the Company's Web site at ferro.com.

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