Ferroglobe Stock Price, News & Analysis

Ferroglobe PLC (GSM) reported a record revenue of $2.6 billion for 2022, marking a 46% increase year-over-year, with adjusted EBITDA reaching $860 million, up 380%. The fourth quarter adjusted EBITDA was $130 million, down 30% from Q3 but up 52% from Q4-21. Net debt reduced to $137 million, while total cash increased to $323 million. The company anticipates adjusted EBITDA of $270-$300 million for 2023. Despite a strong overall year, Q4 sales volume fell 24% due to reduced pricing and customer destocking. Ferroglobe is expanding its production capacity and entering the battery market, emphasizing opportunities in high purity silicon for electric vehicles and solar energy.

Ferroglobe PLC (NASDAQ: GSM) is set to release its fourth quarter and full-year financial results on February 22, 2023, after market close. The company will conduct a quarterly earnings call the following day, February 23, 2023, at 8:30 am Eastern Time. Interested participants can pre-register for the call via a provided link to receive dial-in details. Ferroglobe is a prominent supplier of silicon metal and specialty alloys across various industries including solar, electronics, and automotive. For further information, visit their investor relations website.

Ferroglobe PLC (NASDAQ: GSM) announced Q3 2022 results, reporting revenue of $593.2 million, a 29.5% decline from Q2 2022. Adjusted EBITDA decreased 38.9% to $185.3 million, with a margin of 31%. Net profit dropped to $98.8 million, down from $185.1 million in Q2. The company has $236.8 million in cash, down $69.7 million from the previous quarter. Despite challenging market conditions, Ferroglobe plans to restart its Polokwane facility, adding 55,000 tons of silicon metal capacity. The company continues managing costs and reducing debt.

Ferroglobe PLC (NASDAQ:GSM) will release its third quarter financial results on November 15, 2022, after market close. A conference call to discuss the results is scheduled for November 16, 2022, at 8:30 AM EDT. Participants can register for the call through a provided link to receive dial-in numbers and a personal PIN. Ferroglobe is a leading global supplier of silicon metal and specialty alloys, serving dynamic markets including solar, electronics, and automotive.

Ferroglobe PLC (Nasdaq: GSM) plans to restart its 55,000-ton silicon metal facility in Polokwane, South Africa, in November 2022. This strategic decision aims to boost silicon metal production to meet rising market demand. The plant benefits from competitive energy rates and strategic location, serving customers across Europe, the U.S., Middle East, and Asia. Initial production is set at 1,150 metric tons per month, scaling up to 3,750 metric tons by Q2 2023, contingent upon securing multi-year contracts with strategic clients.

Ferroglobe PLC (NASDAQ:GSM) has appointed Anis Barodawalla as Vice President, Investor Relations and Corporate Strategy. He succeeds Gaurav Mehta, who left for a new opportunity in the United States. Barodawalla brings over 20 years of experience from Dow Chemical Company, where he held senior finance and strategy roles. His expertise in business strategy and portfolio management aligns with Ferroglobe's focus on developing new strategies for growth and value creation. CEO Marco Levi expressed confidence in Barodawalla's immediate impact on the company’s strategic goals.

Ferroglobe PLC (NASDAQ: GSM) reported a record revenue of $840.8 million for Q2 2022, up 17.6% from the previous quarter, driven by strong demand and higher pricing across product categories. Adjusted EBITDA was $303.2 million, marking a 25.7% increase, with a margin improvement to 36.1%. Net profit climbed to $185.1 million, or $0.98 per share. Notably, net debt decreased significantly to $194 million from $342 million, bolstering liquidity to $306.5 million. The company also launched an inaugural ESG report and announced a revised cost-saving target of $225 million.

Ferroglobe PLC (NASDAQ:GSM) plans to release its second quarter financial results on August 15, 2022, after market close. A subsequent earnings call is scheduled for August 16, 2022, at 8:30 AM EDT. Participants can access the call by pre-registering through a provided link and will receive dial-in details. The company, a leading supplier in silicon and manganese-based alloys, serves diverse sectors, including solar and automotive markets. For more details, visit the investor relations page.

LONDON, July 11, 2022 (GLOBE NEWSWIRE) -- Ferroglobe announced the redemption of its 9.0% Senior Secured Notes due 2025, totaling $60 million, at 100% principal plus accrued interest. The redemption is scheduled for July 21, 2022, using cash from the balance sheet. CFO Beatriz Garcia-Cos indicated expectations of improved cash flow, allowing for significant debt reduction. Alongside this redemption, Ferroglobe purchased $19 million of its 9.375% notes, reducing overall gross debt by $79 million.