📈 Price History

Ratio Health

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By Category

📊 Peer Medians

About

Materion Corporation, together with its subsidiaries, produces advanced engineered materials in the United States, Asia, Europe, and internationally. The company operates in four segments: Performance Materials, Electronic Materials, Precision Optics, and Other. It provides beryllium and non-beryllium containing alloy systems and custom engineered metal solutions in strip, bulk, rod, plate, bar, tube, and other customized shapes; engineering and product development services; alloyed metals, beryllium products, and beryllium hydroxide; precision strip, rod, wire, and engineered strip metal products; ToughMet alloys; and SupremEX aluminum silicon carbide metal matrix composite formulation products. The company also operates the bertrandite ore mine and refinery that provides feedstock hydroxide for its beryllium businesses and external sale. In addition, it produces advanced chemicals, microelectronics packaging, precious and non-precious metal, and specialty metal products, including vapor deposition targets, frame lid assemblies, clad and precious metal pre-forms, and high temperature braze materials. Further, the company designs and manufactures precision thin film coatings, optical filters, and assemblies. In addition, it offers inorganic chemicals and powders, specialty coatings, specialty engineered beryllium and copper-based alloys, beryllium composites, ceramics, and engineered clad and plated metal systems. The company sells its products to semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and life sciences through its facilities and service centers, independent distributors and agents, outside distributors, direct sales offices, and independent sales representatives. The company was formerly known as Brush Engineered Materials Inc. and changed its name to Materion Corporation in March 2011. Materion Corporation was founded in 1921 and is based in Mayfield Heights, Ohio.

Key Ratios Snapshot

📈 Growth Pattern

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Manager	Shares	Value	% of Fund	Period
Cathie Wood ARK Investment Management	571	$83K	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management highlighted record second-quarter margins and strong free cash flow, expressed confidence in full-year guidance despite acknowledged tariff risks, and cited specific order rate improvements (defense bookings of $75M, space backlog doubled, non-China semi orders up 15% sequentially).

Q3 2025

Confident Specific

Management repeatedly highlighted record EBITDA margins (27% in electronic materials), double-digit margins in Precision Optics, and a 10% sequential order increase, while explicitly quantifying the $10 million equipment downtime impact and affirming full-year guidance. However, they expressed caution about China uncertainty and potential Q4 government shutdown impacts, leaving the EPS range un-narrowed.

Q4 2025

Confident Specific

Management directly addressed a quality event, explained root cause and corrective actions, while highlighting 7% organic growth excluding the impacted segment. They provided specific growth figures (Electronic Materials +20%, Precision Optics +26%) and detailed 2026 EPS guidance of $6-$6.50, representing 15% growth. The tone was transparent about the issue and forward-looking, with no defensive language.

Q1 2026 latest

Confident Specific

Management uses specific metrics (10% VA growth excl clad, 18% EM growth, 43% Optics growth, record backlog up 20% YoY, $60M defense orders) and provides explicit guidance (low double-digit top-line growth, affirm $6.00-$6.50 EPS, confidence toward upper end). Language like 'we now see a path' and 'meaningful step-up' conveys certainty.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is strengthened after this call. Materion demonstrated that AI-driven demand extends beyond Electronic Materials into Performance Materials (data center infrastructure, defense) and Precision Optics (lithography, AR/VR, space). The record backlog and accelerating order rates across end markets (defense +50%, energy +20%, semi +10% over 12 months) provide visibility for continued growth. The precision clad strip quality issue appears resolved with production back to normal rates. Margin expansion in EM and Optics supports the path to the 23% EBITDA margin target. Key watch items for next quarter: the pace of clad strip revenue recovery, whether the low double-digit top-line guidance materializes in Q2, and continued free cash flow generation as working capital normalizes.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Materion Q1 2026: VA sales up 10% YoY ex-clad, record backlog, adjusted EPS $1.27, EBITDA margin 20.2%

Revenue & Profitability

First quarter VA sales up 1% overall (10% excluding precision clad strip). Adjusted EPS was $1.27, up 12% year-over-year. Adjusted EBITDA was $52.9 million, or 20.2% of VA sales, a record first-quarter margin and a 9% increase. Electronic Materials achieved record EBITDA of $25.9 million (28.3% margin). Precision Optics EBITDA was $5.5 million (17.9% margin). Performance Materials EBITDA was $28.0 million (20.1% margin).

Outlook

Management sees accelerating demand across most end markets, with strong tailwinds from AI-driven semiconductor growth, defense spending, and infrastructure build-out. They expect low double-digit top-line growth for full-year 2026 and reaffirm adjusted EPS guidance of $6.00-$6.50, with growing confidence in delivering toward the upper end. The order backlog exiting Q1 is a company record, up over 20% year-over-year and 15% since the start of the year.

Growth Drivers

Key growth levers include AI-led demand for high-performance memory and data storage (Electronic Materials up 18% YoY), defense orders (record $60 million in Q1, RFQs over $300 million), and new business wins in Precision Optics (up 43% YoY). Aerospace & defense orders up 50%, energy up 20%, and semiconductor up 10% over the last 12 months. The precision clad strip production is back to pre-quality-issue levels, supporting recovery in Performance Materials.

Balance Sheet & CapEx

The company has a CapEx budget of $75 million plus an additional $25 million for mine development. A customer is funding a $65 million investment to expand beryllium capacity. CapEx is spread across all three segments, supporting organic growth, capacity expansion, and plant recapitalization. No single major project was highlighted.

Margins

Adjusted EBITDA margin improved 140 basis points year-over-year to 20.2% in Q1, a record for the first quarter. Electronic Materials drove 1,000+ bps margin expansion to 28.3%, benefiting from volume, mix, and cost improvements. Precision Optics delivered its fifth consecutive quarter of bottom-line improvement (17.9% margin). Performance Materials margins were depressed due to underutilization from the clad issue but are expected to improve meaningfully in Q2 and the back half. Management remains committed to the mid-term EBITDA margin target of 23%.

Key Risks

Risks include the lingering impact of the precision clad strip quality issue (now resolved but still affecting early 2026 profitability), timing of orders in Performance Materials, the headwind from the Chinese semiconductor market, and reliance on customer approvals for further clad strip capacity utilization. Operational challenges in the back half of 2025 amortized into Q1.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-05

Record quarterly sales and earnings were driven by double-digit growth across all segments and robust demand in semiconductor, aerospace & defense, and telecom markets. Raised full-year guidance reflects strong order momentum and record backlog, with continued margin expansion and disciplined capital management.

Q1 2026 Q1 2026 2026-04-29

Value-added sales rose 10% year-over-year (excluding precision clad strip), with strong growth in Electronic Materials and Precision Optics. Record backlog and robust order intake support a positive outlook, with low double-digit top-line growth and EPS guidance affirmed at $6.00-$6.50.

Q4 2025 Q4 2025 2026-02-12

Fourth quarter results were impacted by a quality event, but underlying organic growth was strong, led by Electronic Materials and Precision Optics. 2026 guidance calls for 15% earnings growth, margin expansion, and improved free cash flow, with robust demand in semiconductor, defense, energy, and space markets.

Q3 2025 Q3 2025 2025-10-29

Q3 saw record margins in electronic materials and strong growth in Precision Optics, offset by equipment downtime in Performance Materials. Order rates and defense bookings surged, while China and auto markets remain challenging. Full-year guidance affirmed, with momentum expected into 2026.

Q2 2025 Q2 2025 2025-07-30

Record Q2 margins and strong free cash flow were achieved, with robust growth in aerospace, defense, energy, and non-China semiconductors. Full-year guidance is affirmed despite tariff risks, supported by new business wins and strong order rates.

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