Earnings call transcript Q2 2023

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Greetings. Welcome to the Materion Second Quarter 2023 Earnings Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded.

the Officer. to turn Zaranec, host, now Accounting Chief will conference your over John I

begin. may You

John Zaranec

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

results. we part like point would of of materials the today's out morning, we that quarterly posted to Company's have review begin website our we will Before this on I remarks that reference the as

webcast link. You Officer access Call on materials the Vijayvargiya, the is through and Vice President Executive feature me can and Officer. download With President Chief also the Chadwick, Chief Jugal today Financial Earnings and Shelly

Our format provide as will the for Jugal quarter, today's initiatives. conference well as as on follows. comments update on is opening an call strategic key

the in detailed the for review for expectations our will addition discussing remainder results quarter, of the XXXX. financial Shelly Jugal, to Following

the then for will We call up open questions.

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

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

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

Jugal Vijayvargiya

delivering performance, of second earnings great with today. for growth Materion. Thanks, in our you John. driving from excellence on consecutive and team's share resulted To of an quarter discuss to be our operational details quarter to pleased focus our XXth year-over-year that welcome, customers relentless It's And record I'm everyone.

We achievement sales. expansion. and ability of macroeconomic target XX% for of marked added important portfolio quality of to a also the an quarter outperformed second adjusted quickly This our EBITDA reflects milestone team's margin conditions. respond value to changing The margin of our our with midterm XX.X%

More are even Materion most to market we challenges, conditions. navigate strengthening their of demanding technically them customers portfolio help solve and our turning as to more business, mixed

Our have us global deep capitalize compelling for opportunities with megatrends long partnerships customer term positioning across Materion diverse allowed industries to growth. aligned on

for Clean In clean critical power investment funded energy are that ship and upgrades our this to to exciting have to on including edge new, we our customer exciting cutting us. the generation. customer are for project customer. we such million multiple to of previous $XX is have development. materials are clean completion, provide Today, pleased driving energy energy near we started two one Facility new megatrend discussed for announce opportunities partnerships, quarters, the product projects

entered US. year. with providing agreement Microreactor an support National First, Energy's We start the Idaho we have into material Nuclear Marvel Department to of Project. to this new plan Lab the

could energy concept program larger provide we Asia. of another material promising of in agreement proofs have material generation clean future. In addition, the lead for for Both to in programs reached these next opportunities to

megatrends. in sought a space materials with becoming is for targeted our this exciting provider aligned Materion after global

by semi, and softness telecom center data defense, XX%, our value the in due flat driven on were Focusing largely grew sales Precision growth Cloud market. VA to second aerospace, sales quarter in results, excluding Strip year-over-year, semiconductor added the When project. and

our XXX a of our $XX.X teams well. customers performance Precision needs two Cloud to strong year-over-year, quarter working meet the million, progressing Strip I'm delivering adjusted while growth, organic record from contribution our working meaningful point track what second on record This where higher delivered encouraged expansion included XX% is record on of is by basis for most flat our and sales, continue facility, expansion, that our a diligently roughly phase we Company. which As we are EBITDA

by must content as you quarters. we harsh applications The the build a XX% defense for more for has than with As highlight new was consecutive builds increased coupled also growth market supported materials strong most this since aircraft for know, suited highly properties are conditions. demanding and technical XXXX, which, us, have rates, our in our our of across the well in that year-over-year perform nine market

defense partnerships track generation this ur important new market and sales develop new continue record opportunities, create to serving to multiple can customer expertise applications. next in resulting

global front, a the and been core market undersea a for us driven connectors segment which for is cables, XG growth up the has of has competency that On years. the substantial connectivity demand for of

markets in continued helped based in in devices softness Growth these where quarter, the significant of has we semiconductor, offset seeing course which logic over particularly communication and inventory meaningful correction. the are

we've the the market in that broader seen expect We manufacturers. semi quarter for number chip a signs positive was second are the and the encouraged by likely bottom of

positive quarter will these to believe this chain, gradual supply of our start Given see the year. improvement signs in we in we position and the fourth

performance semicycles strong know, on operational upturns we it is ensuring an deliver despite macro when we're you as volume lead results ready Key our materializes. support to that can excellence, unwavering environment. continued to As to strong strong focus

our run to executed cost have to targeted more look and a number on our macro resources our efficiently In recent ways the to focus teams improvement initiatives. We areas. of for continue growth softness, to response Company

Materion. affirming expect from our cost been recovery come have Company for the ability we the while to from strengthen of a improvement output in initiatives, well and are another full confident and our a horizon, to we protecting aimed deliver that, results. our our year pipeline, benefit gradual year remain our to semiconductor and contributions organic on actions These accelerating guidance ability you've of XXXX. targeted execute our strong With planned With deliver to the record

to cover Shelly to over more call details financials. the the turn me let on Now

Shelly Chadwick

and Jugal, Thanks everyone. good morning

slides will posted During morning. my comments, website this our the on I reference

on share. which sales, slide second metal his million with nine and exclude Jugal of were outlined as roughly the for the in impact we added precious quarter earnings EBITDA delivered flat year. Value prior costs opening adjusted pass a for $XXX.X through remarks, Starting record quarter, per

quarter, delivered Excluding business twelve XX%. to the with of Precisionclad despite of as meaningful share telecom defense, cents the markets We $XX expense was a compared earnings up the contribution Strip. second soft driven remainder semiconductor, aerospace, across the expected growth data the X% headwinds the prior in roughly and by center approximately from year demand interest per of up adjusted US was This along in mainly strong and

slide significant was prior million, slight XX% decrease mix $XX.X of year, price XX.X% in was in value by favorable quarter XXX EBITDA operational expansion a offset added sales, Moving the margin or basis XX, and up strong driven This increase with adjusted of volume. by points. to from the performance,

in initiatives this significant step shared outperforming EBITDA contributed improvement of cost previously targeted to midterm Our margin earnings target the XX%.

the Moving year. quarter outgrowth Strip EBITDA, quarter Telecommun, performance to primarily initiatives, strong Starting due aerospace, $XXX.X value special growth materials from and second performance sales added items, XX, business Strong our in basis Precision or sales, let of drove slide increased price data compared were added our business, with by XXX million margin operational me results million, excluding the Clad expansion. review XXXX, value and up with to increase. to prior volume to in of center was XX% segment. XX.X% favorable million, of points was second XX%, mix $XX.X performance. compared $XX.X This up

Reduction advanced The the from manufacturing production second credit. Inflation quarter also Act's, included the benefit

a expect second we year. strong aerospace, outlook, the and to Telecom Moving led half, defense and Data Center by

strength continued of from expect several organic initiatives. also We our

to the semiconductor XX% value correction causing to communication slowdown turning within a the added on market, electronic significant million, the $XX.X inventory of Next, compared year, logic were prior slide result as materials across XX, and sales devices. down

quarter. of points special $XX.X excellence excluding the XXX year-over-year to or Targeted improvement offset XX.X% million, from sales was added basis a cost demand. initiatives cost resulting partially see EBITDA strong soft this targeted value worked actions. of decline, we and sequential margin the reduction items, did Despite operational in

the we of the look as As the starting normalize. four semiconductor expect Q we market year, in inventory levels gradually to to forward rebound remainder

precision compared offset slightly by reduced million, filter decrease optics defense product $XX.X by turning PCR application segment slide aerospace market, on were value XX% driven sales the and prior strength mainly discontinued was The This added and electronics Finally, demand. year. down to consumer to softening in XX, the in

EBITDA mix of and excluding offset The special year-over-year items, sales. value in improvement was initiatives. meaningful meaningful $X.X decline, positive this driver million, or benefit a added XX.X% of by the was volume cost of decrease

the to expect Looking we supported and order rates to top year, back improved the bottom half the out line, in defense. of by improvement

credit $XXX approximately we XX, with capacity debt Company's of position on liquidity quarter Moving of million million debt now slide cash a and facility. and to the existing ended available net the $XXX on

leverage remains at the slightly below times Our two target of range.

times the below Our midpoint remains range. our leverage slightly two of at target

XX% in another at adjusted representing Lastly, transition record pipeline, slide the affirming the and EPS let our accelerating year of recovery XXXX our increase targeted shared remain the we improvement gradual to to With range cost previously XX full ability a year. our organic fourth outlook a initiatives, quarter, address confident from to share, that, midpoint. are in contributions deliver benefit we starting from with the me at semiconductor our

with XXXX creation market the as early of In excited structure, continued closing, rebound, sustainable half are record an long-term along and contribute and phases second of stakeholders. benefit the year results another for our of we to of semiconductor cost for improved will the we outgrowth expect value

This concludes our remarks. prepared

for now the questions. We line will open

Operator

[Operator instructions].

KeyBank Our first from proceed capital with coming Phil Please question. question Gibbs markets. from is your

Philip Gibbs

morning. good Hey,

consumer know to where these revenues another Chief declines? broader show that on stabilize? to some a Just, business going to I But in you're XQ a is Or consumer have of do sequential rebound on quarter we quarter signs the is fourth question a pointing start just see we businesses. the base is electronics.

Jugal Vijayvargiya

area. of the in a done quarters in market, semi look the the has at supported Phil, deceleration frame March quarters, last a you the of seen compared bottom. to think continued, number if I we that as time orders X to market. you well expecting the had a We've semi our had markets or QX actually we has our Yes. be know, great or were so business QX, even XX that in and exceptionally portfolio the different

bottom, the see is And probably maybe how I QX as but recovery then in say and QX. we equivalent it an would probably

but sort of not stabilization then I'm a sure I see would some QX. So and recovery necessarily decline, in a

business, done over We're little in the to semi quarters. later has our I the declines. comes overall, think, XX think indicated, it the I cycle when last a I like really well

expecting and little bit this QX. a just on be were so QX QX to way, And in continue in we our will it and recovery

we're positioned So well recovery. think the I for

Philip Gibbs

quarter, second a to away? to that the bit pickup in both? I Or the was misalignment bit more tantalum so reductions? was a that due little little The it of it's in both. was think due margins in Electronic Materials cost of going Or

Jugal Vijayvargiya

improvement cost because our but businesses. our actions were mean, of impacting electronic weighted business I conditions the market Optics materials towards those Precision and

certainly, but factor, improvements were the a other a as the improvement well. actions as tantalum, were operational factor So cost such

Philip Gibbs

lastly the if anticipating of half on And you working anything missed then from update them. could that, net second you just you're capital remarks for I've what on prepared Phase- on II that any year the cloud commissioning? and me; share made in your the

Shelly Chadwick

for seen working reasons been that. a So There's we're AP, capital, from of a drag. you've is but still and generating bit inventory organic cash AR on

we're Some of some Clad actually trying Strip, while where inventory the to that customer. serving is we're build

a Also, as a if there little bit that well. we build. you natural recall, about, the material and of opportunity to have propulsion space raw build expected talked system do that's So we've

Clad the Phase of on going as is Strip opportunity cash really either. year, don't So is we order in in. process burn set a on the equipment that bring be huge the a being not Everything a I II, quite we expansion going it's rest and to well. then the And but and inventory of up. haven't expect is the And burn, seen expected, meaningfully. to cash down the generator in

that's think as along I expected. moving So

Jugal Vijayvargiya

we up our expect And has probably continue, our really full indicated. would pick Yes. we've rate still end a small noted, 'XX as plan. Shelly and in of the and would I run and that's see start that 'XX, still in mean as XX%, to we then

the a So great is job. doing team

Operator

Seaport next Your from Harrison Research Mike is Partners. coming question from

Michael Harrison

So correction in applications semiconductor. logic communication and you inventory this noted within

been mostly memory think of I is up destocking specific this we've point, more issue. to viewing the a

I we color semiconductor I and in second just lodging guess, as you of give So specifically us memory? get and hoping expecting little in trends you're you're with was could those differentiating a volume communication on the more half, into some what seeing what between

Jugal Vijayvargiya

Yes.

saw in level our memory a a some needed and think So that I did the really, just they communication. couple and have not from to there's to logic see that we through. And communication, inventory we that as well, logic happen to Mike, decrease of customers work for

going see why over and I we fine correction into that of frankly, communication, memory, was should et diversified that have area, very in communication carry QX. so logic very QX A our then that's QX. big we we're a as it logic, happened in an And into bit be just going portfolio the between here will cetera. a think semi and it part within is power, we little And -- business, glad and that area inventory

impacted the reasons of one semi last last has market couple or because that the that's that the that we been level And increase of impacted broader we to of as the and guess, say so have happened then, not over have. portfolio the the I been year think years over diversified the decrease I would I the so

So an correction, of a more inventory did experience communication. on memory, couple logic and slowdown from customers think, of but we in a I

Michael Harrison

P&L Precision and phase you right. and first there. operations think of have on to so, then Clad as we point you ramp shut very the if those That's the legacy on Are what kind be does just business. some going about believe costs the I the helpful And plant? All impact? that new have as and on up curious sales at impact down some second of Strip

Jugal Vijayvargiya

Yes.

So we do.

with new that that stage, still course, continuing. started the if existing them are we to other ahead looking up way that facilities go and the that production. transition is everything higher this picked we had where capacity is and we'll businesses. give have the we facility then has they that our producing have then, continue volume. ramped have that we from We And up feel they're to plant customer the stop on reallocate operate legacy the that lower operated to facility At then volume we'll And the orders, and the of have both if we'll facility and new for, legacy

in I So a wouldn't sales. necessarily decrease total, think we see in

a But shut point, would need as In now, we we'll shift fact, what continue sales I at more product. legacy any particular would to think in maybe just of this the see of for facility is the whenever right be build. continuing down is and to customer to order

Michael Harrison

question automotive I All right. last the And have is market. then on

It how a and noted You in is of order standpoint, just tougher of half. kind trend driven. to kind that production from decline the a comp believe was a against But us year. QX the I expect prior that automotive a color timing in that discuss give little business. second sounds bit on Maybe like of you

Jugal Vijayvargiya

of for X% automotive. year-over-year. the we've since was the highest second Well, half quarter first our Yes. automotive our of were tracking been when sales year QX look at all, business, you automotive first up

So I overall was decline. noted, you think sequential really, look first X%. And we're a at there up you like timing. was And it half, a the when

it we I and we to that. don't of But production your There hit continue type the the think holidays second negative based order expect things would And would way based that. trend on our just that is, works. quarter think that don't expect the happened on third a challenges like we to timing, in into half. point, any expect I

half second about think overall to our we I expect be to half. equivalent would first

Operator

CJS is question Daniel Moore from Our from Securities. next coming

Daniel Moore

Performance go really impressive, on Materials. Obviously, again to the margins. back and Just in touch particularly wanted

called you advanced credit. I manufacturing think production out

and items any year the forward? sustainability about might Just the have of talk the margins think there been we maybe nonrecurring that about that in as and just in segment moving of balance

Shelly Chadwick

Yes, Dan, good question.

So benefit production obviously, that the are of we taking credit.

still number, the the going know, fine-tune with year. you we of but As up that at of the same for we're came estimate beginning we guidance as kind of we're waiting that with kind further

as in nice the nice did a benefit Materials. a have quarter They is that mix well. So Performance for

Berlium targeted not that beefed bit. as that nothing had of hydroxide, margins the tighten we is other those When meaningful up talk So some about cost in certainly, kind actions, Performance issues. a rich and have up. items of the was demand business there things kind did mix some we couple to things which we Materials of a But does do

cost seeing bit well. benefit the We're mix. the are little of So of a the excellence, production a and running plants operational credit then action, nice great

Jugal Vijayvargiya

Cloud note, And think this accomplished have well, this Dan, the business, I greater program, teams our top that where business the margins. and that both level. standpoint we're Yes, what for than example, of business would continues around EBITDA third delivered executing expectation is from the I and and has And deliver quarter things all this that has line consecutive I is done proud I our think a very and XX% to then just in it Strip think this XX% involved. other are

Daniel Moore

Really opportunities. Any these the projects in generally, as well terms are inflection Energy, the Asia. you seeing Clean sense as mentioned of And for you called an point helpful. in new in of just of gears. kind shifting types you out. more And size new Idaho then opportunities technology emerging of

Jugal Vijayvargiya

in continue we Energy, to have, be is on that gas have. have, know, right, for us, us important business, time, forward. ToughMet very a a business that going we it. very we of the have the a material the and copper It's brilliant and as strong Clearly, which material Yes. number long you for business both strong a has strong very, that items been we that very, a has and oil for very market different

that that really same to you the is the aligning we're a at sure we're megatrend aligning focused know, and general, making we're think to. clean energy on megatrends, in time, as certainly I

in add, one a program. partnerships in a million generation, And one funded, couple Well that past. these being about for is couple clean have partnership We we in. excited Asia. America, engaged We've partnerships proof-of-concept used quarters for And program in one materials Kairos that really talked of ago. type we good customer is two beryllium-based a a are announced customer $XX about XXX% I'm the announced a of power talked I sort proof-of-concept of about. funded, that what where North we that have might material of a is we've for is this is

small, I'd two up relatively ground so are into fantastic end but opportunities They're the floor road. and into we the get from few are say, that items, down if benefiting between the get a larger proof-of-concept so base million things successful, the would the these opportunities here there to being

So think, the think I getting something a it our mean the I we're side. I materials extremely are this seeing on is more that market. And lot macro suited well that, attention. is on megatrend for

And doors opportunities on can to have figure making understand solid really so space knocking we and how they're exciting have sure out and exciting oil for and on this we solid, base the we're side. gas out that our that, addition teams the trying to in

Daniel Moore

how don't get of much by it. of about mid-teens And talk back growth to opportunities business? we return we backlog do about in just as you fiscal that quickly Optics, to and the But 'XX? Precision And margins can sort expect pipeline talk quite in to

Jugal Vijayvargiya

Yes.

for indicated as mean well absolutely the margins. growth you XX% as I I that. would expect And think I XX,

business this have a continued into segment. and And from expect as would the the particularly margins continue that on line you we both automotive top have the that expect expected the expected as then the of in improvement line we bottom I we segment, an success, 'XX, the basis defense all space half in sustainable is so segment this and the well delivering the year, more back as growing we and on to that think have improvement incremental business. should

would expect in I So yes. that 'XX,

Operator

from Our is David next King. CL Silver from question coming

David Silver

So a shot. scatter I will I apologize, have a probably questions. this few be little

of And to this I back margin other I call, to like The high the guess, go guess, on In I the first rate an where segment outstanding wondering, EBITDA a on project? was the the earnings in Materials contribution as be Materials the shipment on Performance Strip seems influenced, to of others this noted your Clad quarter. the project? temporary unusually and would have specialty margin Performance clad Was in it mean segment. I'm where or quarter timing Strip I'm a unduly thinking there per was thing so maybe Clad the to rate terms kind just concentrated project. from not in words, called in And strip you shipment quarter during this the but element particular. I unit the by basis, a was much performance the out that

Jugal Vijayvargiya

Yes.

to First XX% margins. I that for the be company, to the think the know, you as of in overall to time margin proud this deliver objective our And north XX% frame on team of I'm all, that state continued extremely north the of in we've midterm QX. EBITDA is of

course, point. of data it's Now one

got that we've able to be to it trend, several and to frame. quarters very a that call the do a to in time be we're forward in much midterm able doing looking for So to row

thing other also on the we've talked Performance electronic is point delivered would had business, certainly note Materials that about, improvement materials QX that I from that good our sequential think XXX basis QX. I margins we these to

or segment positive, well line with expected. we've to line I quarter, So It's bottom continues has well. Materials a good things think from Performance in an a pretty the It business, that really, through would here did business come much kind of have, it the Materials Precision not unusual definitely standpoint. say, quarter. When the comes line a was both margin-wise I top perform that Cloud second delivered the performance to Electronic really and in but as

project onetime a I benefit. really or so boost And an not single type would that boost say of or single program any a it artificial had

David Silver

look at at okay? inventory in and actually levels, seems be the this second sheet, the of half are quarter, record about first your levels, least in or risen maybe sales with to when it like inventory at I I'm the put trying the your moderating they time would to my the the levels particular, little that models. question a maybe your in a balance volumes So bit. think, boost they've shipment quite at or meaningful thinking bit I My together next just are according And align a in year, same

your And kind really given your why a the second would inventory? mean half. strongly wondering just that timing? building you you've reacting I about or of the strong Is growth a strategic for in the level be how declining I'm growth double-digit outlook company, reaffirming to bit a that seems think to been inventory just quarters. outlook for reporting if Just little not your less sales sales little previous are overall record relative should there we be bit when yet element to

Shelly Chadwick

customer. Clad Precision things, about build business. We the inventory. talked We've with need to the there's and some few a we agreed Strip So

inventory will We our some part of hold them. as arrangement with

So build we've inventory to working some just that business. up for been

Also the that been up. needed Propulsion that, I new So adding raw add as a of Systems, that it. Space materials. piece We've mentioned, is to some building we with

So that's that's piece organic focused. one sort of growth

several quickly. integration up swings. down start of phases don't really inventory you or the big to It And to quick with we runs Performance about kind production. The Yes. it Materials backward of is think quickly that's don't other see that of chain goes something is through so not item pretty consistently, shut adjust normally business, inventory levels. nature It our

I So we wouldn't down. that's are building say that driver. been And inventory a then where are volumes

David Silver

Okay.

or two become that the is will or for year to inventory inventory-intensive, just on? business naturally to sales ratio outlining? to opportunities new more fair working I shift reflect you're what guess, going year a maybe the business next So the you're Is

Shelly Chadwick

business focused the trying always relationship the the a to optimize CFO the customers. wants businesses I'm it's need and always to And those units the levels. to cash Certainly, serve with on

inventory will we do volumes improve efficient, ratios. have continue to more naturally we at need. those we so. we being that sales work the So But Higher and do do levels

David Silver

be Milwaukee. question development the side and maybe would particular, and of in Last electronic in your materials on Newton things programs

kind patch run inventory people by hoped the in slower we're have its of would course, So may hopefully liquidation year. who I of that the the a and have think middle

to inventory have return I companies that have when kind exposure normal. right conditions to a out are that little think the there bit may reported, to they've of pushing most that, that

just my the you a and comment. -- I'm are And is here assumption cycles made short, very

think up, it's going things when I up abruptly. turn turn to

about changed I mean, So when maybe your that and thinking timing-wise? anything mean, wishes, that's your any programs, for aligning the shifts, being has those you I out market your in in your customers' development expansion about need of with programs in in what thinking the change pushed maybe to have place ready anything in anything that timing thinking to Or according when?

Jugal Vijayvargiya

growth would I our expansion that say plans are our plans and David, Yes. intact.

Milwaukee in both as facility continuing facility plans. with in our are as We Newton growth well our our

that that to we with those things have fully are And with ready. of growth kind are good so relationships our we're sure understand plans. make those where projects We we customers, want engaged particular in

make too the as QX. we in the start uptick uptick Like that we which As short, see are happens, the customers sure to far we to and you support very we would here cycles an want indicated, said, away, is can not right?

way bit We're to happen. moving back. support here, a not a We the the to moving good as really as correction are or, want were same ahead. moving recovery us our a soon of let's very hold we're and that sure say, at slowdown inventory this no, letting we ahead before, can make we So at in we pace customers starts

Operator

Storms Dave from is question from next coming Our Stonegate.

David Storms

a capital of Just hoping we since any quick. you've quarters real done on buybacks. couple could allocation It's been touch

in Your range. debt has been

any about activity to Just speak market? allocation could M&A you're if the capital that in and wondering compare seeing you your priorities

Shelly Chadwick

I'll that sure. Yes, one. take

So we pipeline. our investments And about our excited are know, organic prioritizing growth. for you really very as we've been

at has the been to from the perspective, not but opportunities of large love fully been 'XX, very that searching perspective frantically nature not a CapEx the us. M&A From M&A organic has out certainly we business something buyback at open for did which looking and an that's opportunities, a of a us. our #X that drive it's end for growth in we doing is of We're really priority. So that deal priority. have what front and because We really are integrated, of we

We a have there authorization. that us it's at tool time. a opportunistically, we but the could not this for priority It's out use

David Storms

about conversation in great expected of come for Precision XQ. about might to too your there? early back thoughts Any back is lot overall? obviously a been There's start Is coming to expectations be semi talking it XXXX hopefully, what online,

Jugal Vijayvargiya

Yes. for to view go first it, kind our through of then I of put internal and February half call. in with of process and back around half our in, QX, thoughts to 'XX, our let's understand mean, typically, a we the company say, we QX the communicate

So that expect plan and is to we that's do. what still our

Operator

remarks. have question-and-answer Accounting John I the closing Officer, over reached the to Chief We the for end now call of session. turn will Zaranec, And

John Zaranec

thank you My website, in quarter Materion. Thanks questions. I Thank of you. any your this call. to is be second for the earnings concludes be again. (XXX) call participating playback and on This will for I'd XXX-XXXX. follow-up call will this materion.com. XXXX our recorded like on company's available A available number interest

Operator

for This disconnect lines your this concludes Thank time. participation. may you your conference, at you today's and

Materion (MTRN) 2 Aug 232023 Q2 Earnings call transcript