Graftech International Stock Price, News & Analysis

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.

GrafTech International (NYSE: EAF) has received a continued listing standards notice from the New York Stock Exchange (NYSE) due to its average closing stock price falling below $1.00 over a 30-day trading period. The company has a six-month cure period to regain compliance by achieving a closing share price and 30-day average closing price of at least $1.00. GrafTech intends to remain listed on the NYSE and is considering options to address the issue, including a potential reverse stock split subject to stockholder approval. The notice does not result in immediate delisting, and GrafTech's stock will continue to trade on the NYSE during the cure period. This development is not expected to impact the company's ongoing business operations or SEC reporting requirements.

GrafTech International (NYSE: EAF) reported its Q2 2024 financial results, showing sequential improvements despite ongoing market challenges. Key highlights include:

- Net sales of $137 million
- Net loss of $15 million, or $0.06 per share
- Adjusted EBITDA of $14 million
- 6% sequential increase in sales volume to 25.5 thousand MT
- Capacity utilization increased to 60%
- 18% reduction in cash costs per metric ton compared to Q2 2023

The company continues to face weak demand and challenging pricing dynamics in the graphite electrode market. However, GrafTech remains focused on cost reduction initiatives and improving customer engagement to navigate the current commercial environment.

GrafTech International (NYSE:EAF), a key producer of graphite electrode products for electric arc furnace (EAF) steel manufacturing, has released its 2023 Sustainability Report. This report outlines the company's ongoing efforts in environmental, social, and governance (ESG) areas. CEO Timothy Flanagan emphasized GrafTech's role in supporting environmentally friendly steel production through their products. The report is accessible on GrafTech's website, and feedback is encouraged via email at sustainability@graftech.com.

GrafTech International (NYSE:EAF) announced it will hold its Second Quarter 2024 Earnings Conference Call and Webcast on Friday, July 26, 2024, at 10:00 a.m. (EDT). Senior management will discuss the company's financial results for the quarter ending June 30, 2024, alongside current business initiatives. The financial results will be released prior to market open on the same day and will be accessible on the company's investor relations website.

Participants in North America can dial in toll-free at +1 (800) 717-1738, while overseas callers can use +1 (289) 514-5100, using conference ID: 40706. Additionally, live audio and archived replays of the conference call will be available via webcast on GrafTech's investor relations website.

GrafTech International (NYSE: EAF) is urging stockholders to vote for the Board-recommended nominees, Ms. Debra Fine and Mr. Anthony Taccone, using the WHITE proxy card for the upcoming Annual Meeting. The Board's nomination of these two individuals, supported by ISS, aims to enhance the company's governance and drive value for stockholders. GrafTech emphasizes the importance of every vote and urges stockholders to avoid voting for the dissident nominee, Mr. Nilesh Undavia.