Ferroglobe Stock Price, News & Analysis

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.

Ferroglobe PLC (NASDAQ: GSM) announced the closure of a new five-year, $100 million asset-based revolving credit facility on June 30, 2022. This facility, involving Globe Specialty Metals, Inc., is designed to enhance the company’s balance sheet and liquidity. No drawings were made at the time of closing. The facility's interest rate is based on SOFR plus a spread of 150-175 basis points. CFO Beatriz Garcia-Cos emphasized that this step offers flexibility for future corporate needs, reinforcing Ferroglobe's improving credit profile.

Ferroglobe PLC (NASDAQ: GSM) has announced a virtual Investor Day scheduled for July 12, 2022, starting at 8:30 AM EDT. The event will feature senior management discussing the company's business transformation, operational review, and growth prospects. Registration is required to attend the presentations and Q&A session. Ferroglobe is known for its production of silicon metal and specialty alloys for various industries, including solar, automotive, and energy. Forward-looking statements in the release underline potential uncertainties in achieving outlined goals.

Ferroglobe PLC (NASDAQ: GSM) announced a Memorandum of Understanding with REC Silicon to develop a sustainable solar supply chain in the U.S. The partnership aims to supply high purity silicon metal to support U.S. solar manufacturing, benefiting from recent investments by the Hanwha Group. Additionally, the project could create thousands of jobs and enhance local production capabilities. The MOU emphasizes collaboration to boost U.S. production and employment, leveraging Ferroglobe's facilities in West Virginia, Alabama, and Ohio, and REC Silicon's expertise in polysilicon.