Materion (MTRN) Q3 FY2026 earnings: revenue $567 million, up 27.5% on the year

Materion Corp. (MTRN) reported revenue of $567 million for Q3 FY2026, the quarter ended 2 October 2026, up 27.5% on the same quarter a year earlier. Net income was $38 million, up 50.8% on the year, and diluted earnings per share $1.81. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$567 million

+27.5% on the year · -7.6% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

8.9%

7.9% a year earlier

Q4 FY2024Q3 FY2026

Net income

$38 million

+50.8% on the year · -1.1% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$1.81

+48.4% on the year · -1.6% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised.

Net sales and operating profit rose: Net sales reached $567.3 million from $444.8 million. Operating profit was $50.4 million against $34.9 million a year earlier.
Adjusted EBITDA third-quarter record: Adjusted EBITDA was $70.7 million, or 22.5% of value-added sales, against $55.5 million, or 21.0%. The company described it as a third quarter record.
Electronic Materials sales and profit rose: Electronic Materials net sales were $336.6 million against $246.8 million, and operating profit was $28.4 million against $16.3 million. Adjusted EBITDA was $33.2 million, or 32.1% of value-added sales, against 27.1%.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	567	614	445	-7.6%	+27.5%
Cost of revenue	464	510	359	-9.0%	+29.2%
Gross profit	104	104	86.1	-0.6%	+20.4%
Gross margin	18.3%	17.0%	19.4%
Research and development	6.5	6.6	6.5	-0.9%	-0.7%
Selling, general and administrative	42.5	42.3	38.3	+0.5%	+11.2%
Operating income	50.4	51.7	34.9	-2.5%	+44.3%
Operating margin	8.9%	8.4%	7.9%
Interest expense	6.6	7.5	7.5	-12.2%	-12.4%
Pre-tax income	44.2	44.5	28.1	-0.7%	+57.1%
Income tax	5.8	5.7	2.7	+1.7%	+116.5%
Effective tax rate	13.2%	12.9%	9.6%
Net income	38.3	38.8	25.4	-1.1%	+50.8%
Net margin	6.8%	6.3%	5.7%
Diluted EPS	$1.81	$1.84	$1.22	-1.6%	+48.4%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	72.2	74.8	18.3	-3.5%	+294.9%
Capital expenditure	14.5	14.5	13.7	-0.4%	+5.4%
Free cash flow	57.7	60.3	4.5	-4.3%	+1,170.1%
Free cash flow margin	10.2%	9.8%	1.0%
Cash from investing	-26.4	-16.1	-42.3
Cash from financing	-50.8	-54.5	28.0
Depreciation and amortisation	19.7	19.2	17.5	+2.8%	+12.7%
Share-based compensation	4.3	5.2	3.2	-17.3%	+34.4%
Buybacks	0.0	n/a	0.0
Dividends paid	3.0	3.0	2.9	+0.1%	+4.2%
Dividend per share	$0.14	$0.14	$0.14	0.0%	+3.6%
Diluted shares, weighted	21m	21m	21m	+0.4%	+1.3%
Shares outstanding at period end	21m	21m	21m	+0.1%	+0.6%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	1,029	995	935	+3.5%	+10.1%
Short-term borrowings	19.6	17.5	10.2	+12.2%	+92.9%
Debt	399	442	459	-9.9%	-13.1%
Operating lease liabilities	61.9	58.2	61.4	+6.4%	+0.8%
Finance lease liabilities	12.3	12.7	13.4	-2.9%	-8.3%
Other liabilities	352	345	315	+1.9%	+11.7%
Total liabilities and equity	1,873	1,871	1,793	+0.1%	+4.5%
Fixed assets	541	532	539	+1.7%	+0.3%
Goodwill	280	280	280	-0.1%	-0.2%
Intangible assets	96.9	99.9	108	-3.0%	-10.3%
Cash and equivalents	15.4	20.0	16.4	-22.9%	-6.1%
Receivables	269	261	195	+3.1%	+37.6%
Inventory	486	487	467	-0.3%	+4.0%
Other assets	186	191	186	-2.6%	-0.3%
Total assets	1,873	1,871	1,793	+0.1%	+4.5%

Questions

What was Materion's revenue in Q3 FY2026?

Materion (MTRN) reported revenue of $567 million for Q3 FY2026, the quarter ended 2 October 2026, up 27.5% on the same quarter a year earlier.

How much did Materion earn in Q3 FY2026?

Net income for Q3 FY2026 was $38 million, up 50.8% on the year, and diluted earnings per share $1.81.

When did Materion report Q3 FY2026 results?

Materion filed its 10-Q for the quarter ended 2 October 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	397	449	445	428	435	443	399	403	421	385	426	437	437	420	432	445	490	550	614	567
Cost of revenue	324	374	358	345	336	351	309	314	341	314	345	356	344	344	349	359	426	468	510	464
Gross profit	73.1	75.3	87.4	82.7	98.4	91.3	89.1	88.9	79.7	71.2	80.9	80.9	93.0	76.2	82.7	86.1	63.7	81.8	104	104
Gross margin	18%	17%	20%	19%	23%	21%	22%	22%	19%	18%	19%	19%	21%	18%	19%	19%	13%	15%	17%	18%
R&D	7.4	7.1	7.6	7.4	6.9	7.6	7.2	6.3	6.4	7.1	7.7	7.9	6.3	6.5	6.4	6.5	6.5	6.2	6.6	6.5
SG&A	45.7	41.7	42.0	39.0	46.7	40.3	38.9	38.8	39.9	35.8	33.6	35.0	41.1	35.4	35.0	38.3	34.3	36.2	42.3	42.5
Operating income	15.5	19.6	31.9	29.1	39.2	36.9	35.3	36.5	27.6	22.2	32.1	31.3	-38.3	27.2	36.8	34.9	10.8	28.2	51.7	50.4
Operating margin	4%	4%	7%	7%	9%	8%	9%	9%	7%	6%	8%	7%	-9%	6%	9%	8%	2%	5%	8%	9%
Interest expense	n/a	3.7	4.7	5.9	7.6	7.5	7.6	7.7	8.5	8.3	8.8	8.8	8.8	6.9	8.2	7.5	8.0	7.6	7.5	6.6
Pre-tax income	14.4	17.0	28.3	24.4	33.3	30.2	28.4	29.5	19.7	14.6	23.9	23.1	-46.7	20.9	29.2	28.1	3.3	20.9	44.5	44.2
Tax rate	-37%	18%	18%	18%	14%	15%	15%	10%	1%	8%	20%	3%	n/a	15%	14%	10%	-97%	7%	13%	13%
Net income	19.7	14.0	23.3	20.0	28.8	25.6	24.1	26.6	19.5	13.4	19.0	22.3	-48.9	17.7	25.1	25.4	6.6	19.4	38.8	38.3
Net margin	5%	3%	5%	5%	7%	6%	6%	7%	5%	3%	4%	5%	-11%	4%	6%	6%	1%	4%	6%	7%
Diluted EPS	$0.94	$0.68	$1.12	$0.96	$1.38	$1.23	$1.15	$1.27	$0.93	$0.64	$0.91	$1.07	-$2.33	$0.85	$1.21	$1.22	$0.31	$0.92	$1.84	$1.81
Operating cash flow	49.7	-14.3	35.7	12.8	81.8	38.1	32.4	14.0	59.9	-13.8	20.3	5.1	76.3	15.5	49.9	18.3	19.5	-4.3	74.8	72.2
Capital expenditure	25.3	19.0	18.8	16.5	23.4	30.0	29.5	25.8	25.3	21.3	17.1	12.3	17.9	12.3	12.7	13.7	14.5	15.3	14.5	14.5
Free cash flow	24.5	-33.3	17.0	-3.7	58.4	8.1	3.0	-11.8	34.6	-35.1	3.2	-7.2	58.3	3.2	37.3	4.5	5.0	-19.6	60.3	57.7
Buybacks	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	n/a	n/a	n/a	0.0	n/a	n/a	n/a	0.0
Dividends paid	2.5	2.5	2.6	2.5	2.6	2.6	2.7	2.7	2.7	2.7	2.8	2.8	2.8	2.8	2.9	2.9	2.9	2.9	3.0	3.0
Shares outstanding	20m	21m	21m	21m	21m	21m	21m	21m	21m	21m	21m	21m	21m	21m	21m	21m	21m	21m	21m	21m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 2 October 2026, filed 4 November 2026: the filing.