Ferro Corp. Issues FY17 Outlook - Quick Facts

(RTTNews) - Ferro Corp. (FOE) announced, for 2017, the company expects: consolidated sales growth of 7% - 8%; gross margin of 31.4% - 31.9%; adjusted EPS of $1.12 - $1.17; and adjusted EBITDA of $207 million - $212 million.

Peter Thomas, Ferro's Chairman, President and CEO, said: "We are pleased to see the momentum generated in the second half of 2016 carrying into 2017. Results in the early part of 2017 are encouraging, and we are expecting another year of solid growth with constant currency sales growth of 11% - 12%. Based on 2016 year-end rates, we estimate that foreign currency translation will adversely impact reported EBITDA by approximately $7 million, or approximately $0.04 from an EPS perspective."