Materion (US:MTRN)2025-07-30 14:00Financial Performance - Value-added (VA) sales reached $269 million, a 2% organic decrease year-over-year[9] - Adjusted EBITDA margin was a record 20.8% of VA, amounting to $55.8 million[9] - Adjusted EPS was $1.37, a 21% sequential increase[9] - Approximately $36 million in free cash flow was generated[9] - The company is on track to deliver 70%+ free cash flow conversion for the full year[9] Segment Performance - Performance Materials' value-added sales were $168.5 million[35] with adjusted EBITDA of $41.5 million, or 24.6% of VA[36] - Electronic Materials' value-added sales were $76.1 million[42] with adjusted EBITDA of $17.8 million, up 4% year-over-year[42], achieving a record adjusted EBITDA margin of 23.4%, up 230 bps year-over-year[20, 44] - Precision Optics' value-added sales were $24.4 million[47] with adjusted EBITDA of $2.2 million, up 5%[47], and adjusted EBITDA margins up 950 bps sequentially[20] Capital Allocation and Outlook - 100,000 shares were repurchased during the quarter at an average of ~$78/share[10, 20] - Full year adjusted EPS guidance of $5.30 - $5.70 is affirmed[20, 54] - Capital expenditures are projected at $70 million for 2025[56]