Graftech International Stock Price, News & Analysis

GrafTech International (NYSE:EAF) has announced its upcoming Fourth Quarter and Full Year 2024 Earnings Conference Call and Webcast, scheduled for Friday, February 7, 2025, at 10:00 a.m. (EST). The company's senior management will host the call to discuss financial results for Q4 and full-year 2024, along with current business initiatives.

The financial results will be released before market open on the same day and will be accessible on the company's investor relations website. Interested parties can join the conference call using the toll-free number +1 (800) 717-1738 in North America or +1 (289) 514-5100 for overseas calls, using conference ID: 51544. A live audio webcast will be available on the company's website, and archived replays will be accessible through their investor relations portal.

GrafTech International (NYSE: EAF) announced the final results of its Exchange Offers through its subsidiaries GrafTech Finance and GrafTech Global. The exchange involved outstanding 4.625% senior secured notes due 2028 and 9.875% senior secured notes due 2028 for new second lien notes due 2029.

The exchange participation was notably high, with 99.65% ($498,245,000) of the 4.625% Notes and 99.15% ($446,167,000) of the 9.875% Notes being tendered. Settlement is expected on December 23, 2024. The company also received sufficient consents to amend the existing notes indentures, eliminating most restrictive covenants and releasing collateral securing the existing notes.

GrafTech International (NYSE:EAF) has received a silver medal from EcoVadis for its sustainability performance, placing it among the top 15% of globally assessed companies. This represents an improvement from their bronze medal in the previous year.

The recognition reflects GrafTech's dedication to environmental, social, and governance (ESG) initiatives and transparency across their value chain. The EcoVadis assessment evaluates 21 sustainability criteria across four core themes: environment, labor and human rights, ethics, and sustainable procurement.

CEO Timothy Flanagan emphasized the company's commitment to positive change and responsible corporate citizenship, highlighting their contributions to steel sustainability across their global manufacturing network. EcoVadis has rated more than 130,000 companies worldwide.

GrafTech International (NYSE: EAF) announced that its subsidiaries have commenced exchange offers for their existing notes. The exchange offers include GrafTech Finance's 4.625% senior secured notes due 2028 and GrafTech Global's 9.875% senior secured notes due 2028, to be exchanged for new second lien notes due 2029 with the same interest rates. Supporting Noteholders representing approximately 89% of the 4.625% Notes and 72% of the 9.875% Notes have agreed to participate.

The exchange offers include consent solicitations to modify the existing notes' indentures, requiring majority holder consent to eliminate restrictive covenants and 66 2/3% consent to release collateral. The offers will expire on December 20, 2024, at 5:00 pm NYC time.

GrafTech International (NYSE: EAF) reported third quarter 2024 financial results with net sales of $131 million and a net loss of $36 million ($0.14 per share). The company achieved a 9% year-over-year sales volume growth to 26.4 thousand metric tons and generated positive cash flow through working capital management. The company announced a new financing agreement including $175 million in new senior first lien term loans and commitments for an additional $100 million. Despite challenging market conditions, GrafTech reduced cash costs by 28% year-over-year and generated $20 million in adjusted free cash flow during Q3 2024.

GrafTech International (NYSE: EAF) has announced a significant financial restructuring agreement with its lenders. The transaction includes $175 million in new senior secured first lien term loans and $100 million in delayed draw term loans available for 19 months. The company will also exchange existing notes for new second lien notes maturing in 2029 and establish a new $225 million revolving credit facility extending to November 2028. This restructuring is expected to increase the company's liquidity from $254 million to $529 million as of September 30, 2024, helping GrafTech navigate through current industry-wide challenges.

GrafTech International (NYSE: EAF) has successfully regained compliance with the New York Stock Exchange's continued listing standards. The company had previously received a notice on August 7, 2024, for non-compliance due to its average closing stock price falling below $1.00 over a 30-day trading period. As of October 31, 2024, GrafTech has maintained the required minimum share price of $1.00 over the subsequent 30-day trading period, ensuring its continued listing on the NYSE.

GrafTech International (NYSE:EAF) has announced its Third Quarter 2024 Earnings Conference Call and Webcast, scheduled for Tuesday, November 12, 2024, at 10:00 a.m. (EST). The company will release its financial results for the quarter ended September 30, 2024, before market open on the same day. Senior management will host the call to discuss financial results and current business initiatives. The conference call will be accessible via toll-free dial-in for North American participants and through webcast on the company's website.

GrafTech International (NYSE: EAF) has announced the appointment of Rory O'Donnell as its new Chief Financial Officer and Senior Vice President, effective September 3, 2024. O'Donnell will report directly to CEO Timothy Flanagan and oversee all financial aspects of the company. He brings extensive financial expertise from his previous roles, including serving as Senior VP, Controller, and Principal Accounting Officer at Covia , where he also held the position of Interim CFO. Prior experiences include senior positions at Signet Jewelers and Cleveland-Cliffs Inc. O'Donnell holds a B.S. in Accounting from the University of Dayton and is a licensed CPA in Ohio.