Materion Corporation (MTRN) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.597 and we anticipate more normalized production levels as we finish out the year. 00:00:05.597 -- 00:00:11.263 Despite the shortfall in performance materials, we delivered 21% EBITDA margins 00:00:11.263 -- 00:00:15.047 for only the second time in our company's history. 00:00:15.047 -- 00:00:20.533 Our team is making great progress towards our new midterm target margins of 23%. 00:00:20.533 -- 00:00:22.533 In 00:00:23.396 -- 00:00:28.626 addition to our strong financial performance in the quarter, We are also pleased 00:00:28.626 -- 00:00:33.871 with the step up we're seeing in incoming order rates across the company. 00:00:33.874 -- 00:00:38.261 Overall, our order rates are up more than 10% sequentially, 00:00:38.261 -- 00:00:43.710 and with the key markets of semiconductor, defense, space, and energy up 20% 00:00:43.710 -- 00:00:46.094 year to date. 00:00:46.094 -- 00:00:50.821 These markets are seeing strong secular demand growth, and we are developing products 00:00:50.821 -- 00:00:56.487 and partnerships to supply the materials that are critical to their performance. 00:00:57.237 -- 00:01:02.485 Semiconductor has long been a leading market for us, where we have made strategic 00:01:02.485 -- 00:01:07.793 organic and inorganic investments to develop the right footprint and material 00:01:07.793 -- 00:01:09.793 set. 00:01:09.816 -- 00:01:14.843 We are starting to see a cyclical recovery taking shape, led by the proliferation 00:01:14.843 -- 00:01:16.886 of AI. 00:01:16.886 -- 00:01:21.893 Excluding China, our semi-business is up 7% year to date, with 00:01:21.893 -- 00:01:27.619 sales into high-performance memory applications increasing more than 30%. 00:01:27.865 -- 00:01:30.249 In our ALD portfolio, 00:01:30.249 -- 00:01:34.996 w...