MATERION Files 8-K; Financial Details Pending

Ticker: MTRN · Form: 8-K · Filed: 2024-01-19T00:00:00.000Z

Sentiment: neutral

Topics: 8-K, corporate-filing, disclosure, financial-condition

TL;DR

**MATERION filed an 8-K, but the actual financial info is missing, so no news yet.**

AI Summary

MATERION Corporation filed an 8-K on January 19, 2024, indicating a current report under Section 13 or 15(d) of the Securities Exchange Act of 1934. The filing itself, however, does not contain specific financial results or operational changes, but rather serves as a cover sheet for a subsequent, unattached exhibit. This matters to investors because without the actual content, it's impossible to assess any new financial condition or operational results that MATERION might be reporting, leaving them in the dark about potential impacts on the stock price.

Why It Matters

This 8-K is a placeholder; the actual financial or operational details are missing, meaning investors cannot yet evaluate any new information that could affect MATERION's stock value.

Risk Assessment

Risk Level: medium — The filing is incomplete, creating uncertainty as investors cannot access the reported information, which could be positive or negative.

Analyst Insight

A smart investor would monitor MATERION's subsequent filings closely for the actual content related to 'Results of Operations and Financial Condition' to understand the company's performance and potential stock impact, as this 8-K is merely a notification of an upcoming report.

Key Players & Entities

FAQ

What is the purpose of this specific 8-K filing by MATERION Corporation?

This 8-K filing by MATERION Corporation on January 19, 2024, is a 'Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934' and indicates 'Results of Operations and Financial Condition' under Item Information, but the actual content detailing these results is not included in the provided text.

What is MATERION Corporation's trading symbol and on which exchange is its common stock registered?

MATERION Corporation's common stock has the trading symbol MTRN and is registered on the New York Stock Exchange, as stated in the 'Securities registered pursuant to Section 12(b) of the Act' section of the filing.

What is the business address and phone number of MATERION Corporation as listed in the filing?

The business address for MATERION Corporation is 6070 Parkland Blvd., Mayfield Hts., Ohio 44124, and its business phone number is (216) 486-4200, according to the filing.

Was MATERION Corporation formerly known by a different name, and if so, what was it and when did the name change occur?

Yes, MATERION Corporation was formerly known as BRUSH ENGINEERED MATERIALS INC, and the date of the name change was January 31, 2000 (20000131), as indicated in the 'FORMER COMPANY' section of the filing.

Does MATERION Corporation identify as an emerging growth company in this filing?

No, MATERION Corporation indicates with an unchecked box (☐) that it is not an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Filing Stats: 585 words · 2 min read · ~2 pages · Grade level 13.4 · Accepted 2024-01-19 06:47:41

Key Financial Figures

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition As previously disclosed, Materion Corporation (the "Company") is recording an estimated cash benefit to cost of sales for the Section 45X Advanced Manufacturing Production Credit ("production credit") as part of the Inflation Reduction Act of 2022. On December 15, 2023, the U.S. Treasury Department (the "Treasury Department") published proposed regulations on the implementation of the production credit. The proposed regulations include clarifying guidance regarding the Treasury Department's definition of production costs in the computation of the production credit. Although the December 2023 proposed clarifying guidance is not authoritative for tax year 2023 and is subject to change in the regulatory review process, the guidance indicates that the Treasury Department may have intended for a narrower definition of production costs with respect to the production credit. Accordingly, the Company is reducing the estimated annual non-taxable cost of sales benefit by approximately $3 million, all of which will be recorded in the fourth quarter of 2023. The Company intends to submit written comments to the Treasury Department as requested in the comment period to state the Company's view that all costs incurred to produce beryllium critical minerals should be included in the cost of production. The ultimate amount of benefits that the Company is entitled to receive in connection with the production credit will depend on, among other things, the final regulations on the implementation of the production credit.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Materion Corporation January 19, 2024 By: /s/ Shelly M. Chadwick Shelly M. Chadwick Vice President, Finance and Chief Financial Officer

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