Materion Corporation (NYSE:MTRN) Q3 2022 Results Conference Call November 2, 2022 9:00 AM ET

Company Participants

John Zaranec - CAO

Jugal Vijayvargiya - President, CEO

Shelly Chadwick - VP, CFO

Conference Call Participants

Phil Gibbs - KeyBanc

Operator

Good day, ladies and gentlemen, and welcome to the Materion Third Quarter 2022 Earnings Conference Call. At this time, all participants have been placed on a listen-only mode, and the floor will be open for questions and comments after the presentation.

It is now my pleasure to turn the floor over to your host, John Zaranec, Chief Accounting Officer at Materion Corporation. Sir, the floor is yours.

John Zaranec

Good morning, and thank you for joining us on our third quarter 2022 earnings conference call. This is John Zaranec, Chief Accounting Officer.

Before we begin our remarks this morning, I would like to point out that we have posted materials on the company’s website that we will reference as part of today’s review of the quarterly results. You can also access the materials throughout the download feature on the earnings call webcast link.

With me today is Jugal Vijayvargiya, President and Chief Executive Officer; and Shelly Chadwick, Vice President and Chief Financial Officer. Our format for today’s conference call is as follows. Jugal will provide opening comments on the quarter and an update on key strategic initiatives. Following Jugal and Shelly will review the detailed financial results for the quarter in addition to discussing our expectations for the remainder of 2022. We will then open the call for questions.

Let me remind investors that any forward-looking statements made in this presentation, including those in the outlook section and during the question-and-answer portion are based on current expectations. The company's actual performance may materially differ from that contemplated by the forward-looking statements as a result of a variety of factors. Those factors are listed in the earnings press release we issued this morning.

Additionally, comments regarding earnings before interest, taxes, depreciation, depletion and amortization, net income and earnings per share reflect the adjusted GAAP numbers shown in attachments four through seven in this morning's press release. The adjustments are made in the prior year period for comparative purposes and remove special items, non-cash charges and certain discrete income tax adjustments.

And now, I'll turn over the call to Jugal for his comments.

Jugal Vijayvargiya

Thanks, John, and welcome, everyone. I'm pleased to be with you this morning to share details on another record quarter for Materion. And to cover some significant advancements we have made on our strategic initiatives. We remain on-track to deliver another record year, as we have continued to reset the bar each quarter for the last two years. In Q3, we achieved our highest ever top-line results, with value-added sales up 35% compared to the prior year.