11:13 AM EDT, 10/02/2024 (MT Newswires) -- Materion ( MTRN ) shares fell nearly 8% in recent Wednesday trading after the company lowered its full-year adjusted earnings per share guidance, missing analysts' expectations.

The company said in a regulatory filing Tuesday that it now expects full-year adjusted EPS of $5.20 to $5.40 from $5.60 to $5.90 previously.

Analysts polled by Capital IQ expect $5.45.

The company said the outlook was reduced to reflect the lower-than-expected incoming order rates for H2.

Materion ( MTRN ) also said that value-added sales for H2 will be around 5% less than what it initially projected.

Price: 101.19, Change: -8.63, Percent Change: -7.86