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Ferroglobe PLC Ordinary Shares - GSM STOCK NEWS

Welcome to our dedicated page for Ferroglobe PLC Ordinary Shares news (Ticker: GSM), a resource for investors and traders seeking the latest updates and insights on Ferroglobe PLC Ordinary Shares stock.

Ferroglobe PLC (NASDAQ: GSM) is one of the world's largest producers of a wide variety of metal alloys and other metallic products. The company leverages state-of-the-art technology to deliver top-quality products that are essential components in numerous industrial and consumer applications. Specializing in silicon-based alloys, Ferroglobe also provides manganese and ferrosilicon alloys, along with silica fume.

Beyond its metal-related ventures, Ferroglobe is actively involved in hydro-electric power generation and mining, creating synergies that bolster its core operations. The company is strategically organized into several business areas, including electrometallurgy, mining, energy, and solar photovoltaic technologies, with operational units spread across the globe in countries such as Spain, the United States, France, Canada, South Africa, Argentina, Venezuela, and China.

Ferroglobe caters to a diverse customer base, serving industries like specialty chemicals, aluminum, solar energy, steel, and ductile iron foundries. Its business segments are categorized by geographical regions and product types, including North America - Silicon, Europe - Manganese, Europe - Silicon, South Africa - Silicon, and other segments.

The company’s recent accomplishments highlight its robust financial health. For instance, the third quarter of 2023 saw silicon metal revenue of $199 million, marking a 1.7% increase over the previous quarter. This uptick was driven by a 12.6% volume increase in North America, although average realized prices saw a 9.7% decline due to lower market index pricing in the U.S. and Europe. Adjusted EBITDA stood at $81 million, with an EBITDA margin of 41%, slightly lower than the second quarter. Cost improvements, mainly due to higher energy compensation, helped offset the price declines.

  • Partnerships: Ferroglobe has formed strategic alliances, such as the recent collaboration aimed at developing cost-effective, long-range EV batteries utilizing metallurgical silicon.
  • Financial Guidance: The company has increased its annual Adjusted EBITDA guidance to $130-170 million, reflecting confidence in its ongoing operations.
  • Investor Relations: Alex Rotonen, CFA, serves as the Vice President of Investor Relations, and Cristina Feliu Roig holds the position of Executive Director of Communications & Public Affairs.

For more detailed updates and financial performance metrics, investors can visit Ferroglobe's investor relations page.

Rhea-AI Summary

Ferroglobe PLC (NASDAQ: GSM) reported strong Q2 2024 financial results, with sales increasing 15% to $451 million and adjusted EBITDA more than doubling to $57.7 million. The company narrowed its annual Adj. EBITDA guidance to $150-170 million. Key highlights include:

- Net income of $34.9 million, or $0.18 per diluted share
- Net cash positive position of $64 million
- U.S. Department of Commerce announced preliminary duties on Russian FeSi imports
- French operations restarted, driving silicon metal volume growth
- Paid quarterly cash dividend of $0.013 per share; next dividend on September 27
- Shareholders approved share buyback program for up to 37.8 million shares

The company saw increased sales volumes in silicon metal and manganese-based alloys, with silicon metal revenue up 21.6% and manganese-based alloy revenue up 47.6% quarter-over-quarter.

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Ferroglobe PLC (NASDAQ: GSM) has announced its schedule for the second quarter 2024 earnings call, set for August 6, 2024, at 8:30 a.m. Eastern Time. The company will release its financial results for Q2 2024 after the market closes on August 5, 2024. Interested parties can join the conference call via phone by pre-registering through a provided link to receive dial-in numbers and a personal PIN. Additionally, a simultaneous audio webcast and replay will be available for those who prefer to join online.

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Ferroglobe (NASDAQ: GSM) announced solid financial results for Q1 2024, with adjusted EBITDA of $25.8 million. The company raised its annual adjusted EBITDA guidance to $130-170 million from the previous $100-170 million. Despite a net loss of $2 million, Ferroglobe became net cash positive for the first time, with a gross debt of $81 million. The company initiated a $0.013 per share cash dividend, payable on March 28, and will issue another on June 27. A stock buyback program is also planned, pending shareholder approval. Ferroglobe restarted its French operations and is applying for a permit to expand U.S. silicon metal production. A strategic partnership with Coreshell aims to advance the use of silicon in EV batteries.

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Ferroglobe PLC (NASDAQ: GSM) will release its first-quarter financial results on May 14, 2024, and host an earnings call on May 15, 2024. The call will take place at 8:30 a.m. Eastern Time. Participants can join via phone or webcast. Details can be found on the company's website.

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Ferroglobe PLC appoints Carsten Larsen as Chief Commercial Officer, bringing three decades of experience in business growth strategies. Larsen's background includes roles at Agilyx ApS and Dow, enhancing Ferroglobe's sales and marketing strategies.
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Ferroglobe PLC (NASDAQ: GSM) and Coreshell partner to develop low-cost, high-range EV batteries using metallurgical silicon, aiming to revolutionize the electric vehicle industry. The partnership aims to replace graphite and silane-based silicon in batteries, potentially increasing driving range by 30%. This innovative collaboration addresses the cost and range limitations of current electric vehicle batteries, offering a breakthrough solution for consumers and automakers.
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LONGi and Ferroglobe announce a long-term supply agreement for high-quality silicon materials, showcasing a strategic partnership to enhance collaboration and support solar technology advancement.
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Ferroglobe PLC (NASDAQ: GSM) announced financial results for Q4 and full year 2023, with 2024 adjusted EBITDA guidance of $100-170 million. The company reported a 36% Y/Y revenue decline, with adjusted EBITDA down 63% Y/Y. Q4 adjusted EBITDA declined by 42% from Q3 and 54% from Q4-22. Despite softening demand, the company posted solid financial and operational performance, initiated a quarterly cash dividend, and optimized energy contracts.
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Ferroglobe PLC (NASDAQ: GSM) and LONGi, a solar technology company, have signed a long-term supply agreement for quartz and silicon. The partnership aims to enhance collaboration and support LONGi's goal of increasing purchases from leading Western suppliers. This agreement signifies a commitment to operational excellence and traceability in the solar industry.
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Ferroglobe PLC (NASDAQ: GSM) announces the full redemption of its 9.375% Senior Secured Notes due 2025, amounting to $147,623,624, plus accrued interest and call premium. The redemption date is expected to be on February 16, 2024. The company plans to use cash on the balance sheet for the redemption. This move signifies a significant milestone for Ferroglobe, as it has successfully reduced its adjusted gross debt by approximately $370 million since the end of 2022, highlighting its strong ability to generate free cash flow. The reduction in debt level and redemption of the notes indicate the company's success in strengthening its balance sheet. This action is expected to enhance the company's financial flexibility, enabling the implementation of a capital return policy and providing more attractive avenues for debt financing in the future. The repurchases and redemption of the notes are estimated to save the company approximately $32 million in annual interest expense compared to 2022.
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FAQ

What is the current stock price of Ferroglobe PLC Ordinary Shares (GSM)?

The current stock price of Ferroglobe PLC Ordinary Shares (GSM) is $4.37 as of October 9, 2024.

What is the market cap of Ferroglobe PLC Ordinary Shares (GSM)?

The market cap of Ferroglobe PLC Ordinary Shares (GSM) is approximately 819.2M.

What does Ferroglobe PLC produce?

Ferroglobe produces a wide range of metal alloys, including silicon-based alloys, manganese and ferrosilicon alloys, and silica fume.

What industries does Ferroglobe serve?

Ferroglobe serves various industries such as specialty chemicals, aluminum, solar energy, steel, and ductile iron foundries.

Where are Ferroglobe's operations located?

Ferroglobe has operational units in Spain, the United States, France, Canada, South Africa, Argentina, Venezuela, and China.

What was Ferroglobe's silicon metal revenue in the third quarter of 2023?

The silicon metal revenue was $199 million, an increase of 1.7% over the prior quarter.

What are the business segments of Ferroglobe?

The business segments include North America - Silicon, Europe - Manganese, Europe - Silicon, South Africa - Silicon, and Other segments.

Who can be contacted for investor relations at Ferroglobe?

Alex Rotonen, CFA, Vice President of Investor Relations, can be reached at investor.relations@ferroglobe.com.

What recent partnership has Ferroglobe announced?

Ferroglobe announced a partnership to develop cost-effective, long-range EV batteries using metallurgical silicon.

How has Ferroglobe adjusted its financial guidance for 2023?

The company increased its annual Adjusted EBITDA guidance to $130-170 million.

What is the main focus of Ferroglobe beyond metal alloys production?

Ferroglobe is also involved in hydro-electric power generation and mining.

Where can investors find more detailed information about Ferroglobe?

Investors can visit Ferroglobe's investor relations page at http://investor.ferroglobe.com.

Ferroglobe PLC Ordinary Shares

Nasdaq:GSM

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819.18M
187.89M
40.64%
54.64%
1.68%
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