Welcome to our dedicated page for Ferroglobe news (Ticker: GSM), a resource for investors and traders seeking the latest updates and insights on Ferroglobe stock.
Ferroglobe PLC (NASDAQ: GSM) is a producer of silicon metal, silicon-based specialty alloys, manganese-based specialty alloys and ferroalloys, supplying customers in end markets such as solar, electronics, automotive, consumer products, construction and energy. This news page aggregates company announcements, earnings releases and other public updates related to GSM.
Readers can review quarterly and annual financial results, where Ferroglobe reports sales, adjusted EBITDA, net income or loss, cash and debt metrics, and detailed performance by product category. These releases often discuss market conditions, demand trends in steel and foundry sectors, raw material and energy costs, and the impact of trade measures in the U.S. and European Union on silicon metals, silicon alloys and manganese alloys.
The news flow also covers capital allocation and shareholder matters, including disclosures on quarterly cash dividends, share repurchases and index membership such as inclusion in the Russell 2000 and Russell 3000 indexes. Announcements of earnings call schedules provide information on upcoming webcasts and conference calls for investors and analysts.
In addition, Ferroglobe’s updates highlight strategic and partnership developments, such as its role as a key materials partner to Coreshell, a battery technology company working on silicon anode lithium-ion batteries. These items illustrate how Ferroglobe’s silicon products are being used in emerging applications, including electric vehicles, robotics and defense-related battery systems.
By following this page, users can access a chronological record of GSM-related press releases and official communications, covering financial performance, trade and regulatory developments, capital returns, index changes and technology partnerships.
Ferroglobe PLC (Nasdaq: GSM) announced it has regained compliance with Nasdaq's minimum bid price requirement, as confirmed by a notification letter from Nasdaq's Listing Qualifications Department. This compliance indicates that Ferroglobe has adequately addressed the previous deficiency regarding the Minimum Bid Requirement and is not required to take further action to maintain its Nasdaq listing.
On December 8, 2020, the U.S. Department of Commerce announced preliminary duties of up to 47.54% on silicon metal imports from Bosnia and Iceland. This decision follows ongoing investigations into unfairly-traded silicon metal imports from multiple countries, including a previous determination of up to 120% duties on imports from Kazakhstan. Officials from Globe Specialty Metals (GSM) and Mississippi Silicon (MS) expressed that these duties will help stabilize market conditions and restore competitive balance. Further preliminary determinations for Malaysia are expected on January 27, 2021.
On Dec. 8, 2020, U.S. manufacturers Globe Specialty Metals (Ferroglobe PLC, NASDAQ:GSM) and Mississippi Silicon announced that the U.S. Department of Commerce will impose preliminary duties of up to 47.54% on silicon metal imports from Iceland and Bosnia and Herzegovina. This decision follows ongoing investigations concerning unfairly traded imports from various countries, including Kazakhstan. The measures aim to protect U.S. industry and restore fair competition in the silicon metal market, crucial for applications in automotive, aerospace, and solar industries.
Globe Specialty Metals (GSM) welcomes the U.S. Department of Commerce's preliminary decision to impose a 120% duty on silicon metal imports from Kazakhstan, aimed at addressing unfair trade practices. This decision follows ongoing investigations of imports from Kazakhstan, Bosnia and Herzegovina, Iceland, and Malaysia, which are determined to harm the U.S. industry. The duties are expected to improve market conditions for U.S. producers. Preliminary determinations for the other countries will be announced soon, with GSM and Mississippi Silicon advocating for fair trade practices.
On November 30, 2020, Globe Specialty Metals and Mississippi Silicon welcomed the U.S. Department of Commerce's announcement of preliminary duties of 120% on all silicon metal imports from Kazakhstan. The decision stems from investigations into unfair trading practices affecting U.S. silicon metal producers. Globe Specialty Metals' CEO, Marco Levi, emphasized the need for market normalization in light of these challenges. Additional investigations regarding imports from Bosnia and Herzegovina, Iceland, and Malaysia will conclude in December 2020 and January 2021.
Ferroglobe reported Q3 2020 sales of $262.7 million, a 5.1% increase from $250.0 million in Q2 2020 but a decline from $381.7 million in Q3 2019. The company faced a net loss of $(46.8) million, worsened by a $34.3 million impairment charge. Adjusted EBITDA was $22.2 million, slightly down from Q2 2020. Total shipments rose 3.5% from the prior quarter. Gross debt decreased to $442 million. The CEO highlighted ongoing initiatives to strengthen the company's financial position amid COVID-19 challenges.
Ferroglobe PLC (NASDAQ:GSM) will release its third-quarter financial results on November 23, 2020, after market close. The earnings call is scheduled for November 24, 2020, at 9:00 AM EST. Interested participants can join the call via a U.S. dial-in number (+1-877-293-5491) or an international number (+1-914-495-8526). An audio webcast will also be available. Ferroglobe is a leading supplier of silicon metal and specialty alloys for various industries, including solar and automotive.
Ferroglobe PLC (NASDAQ:GSM) has appointed Thomas Wiesner as the new Chief Legal Officer, effective immediately. Wiesner brings nearly a decade of experience from prestigious law firms and is expected to also serve as Secretary to the Board. His appointment follows the departure of Theodore Allegaert and Dorcas Murray from their respective roles. CEO Marco Levi emphasized Wiesner's role in streamlining operations and supporting the company’s strategic direction. This leadership change is seen as pivotal during a time of organizational restructuring.
Ferroglobe PLC reported Q2 2020 sales of $250.0 million, down 19.7% from Q1 2020 and 38.8% year-over-year. The company experienced a net loss of $(14.0) million, an improvement from $(49.1) million in Q1. Adjusted EBITDA stood at $22.4 million, up from $(17.6) million in Q1, reflecting a margin of 9.0%. Operating cash flow was positive at $38.1 million, with gross debt rising to $451 million. The ongoing COVID-19 pandemic has impacted product demand, though operational changes have aided cost reductions.
Ferroglobe PLC (NASDAQ:GSM) will release its second quarter 2020 financial results after the market close on August 31, 2020. The company will host a quarterly earnings call on September 1, 2020, at 9:00 AM EDT, where investors and interested parties can participate.
The conference call can be accessed via phone or an audio webcast. Participants are encouraged to dial in at least five minutes early to register. Ferroglobe, a leading supplier of silicon metal and specialty alloys, serves diverse markets including solar, automotive, and energy.