Ferroglobe Stock Price, News & Analysis

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.

Ferroglobe PLC (NASDAQ: GSM) announced important management changes to enhance operational and strategic execution. Dr. Benoist Ollivier has been appointed as Chief Technology & Innovation Officer while maintaining his role as Deputy CEO, focusing on high-value products like silicon-rich materials for batteries. Mr. Benjamin Crespy has been named Chief Operating Officer, tasked with overseeing operational strategies and optimizing assets for profitability. CEO Marco Levi emphasized that these leadership shifts support the company's goals for long-term growth and sustainability.

On May 25, 2022, Ferroglobe PLC (NASDAQ: GSM) announced the successful restart of its second furnace at the Selma, Alabama facility, boosting annual silicon metal capacity by 11,000 tons. This brings the total capacity of the facility to 22,000 tons, enhancing Ferroglobe's ability to meet growing demand in North America. CEO Marco Levi highlighted the importance of this restart for customer service and production optimization. The company is also considering the potential restart of its Polokwane, South Africa plant to meet broader customer needs.

Ferroglobe PLC (NASDAQ: GSM) reported record Q1 2022 results, with revenues of $715.3 million, up 26% from Q4 2021 and 98% year-over-year. Adjusted EBITDA soared 181.7% to $241.1 million, with a margin improvement to 33.7%. Net profit reached $150.8 million compared to $50 million in Q4 2021. The company cited strong pricing across product categories, improved liquidity, and operational enhancements. However, shipment declines in manganese-based alloys and challenges from energy costs were noted. The company is optimistic about further growth in Q2 2022.

Ferroglobe PLC (NASDAQ:GSM) will announce its first quarter financial results on May 10, 2022, after market close, followed by a quarterly earnings call on May 11, 2022, at 8:30 AM EDT. Interested parties can join the call by dialing in or accessing it via audio webcast. Ferroglobe specializes in silicon metal, specialty alloys, and ferroalloys, serving diverse fast-growing industries like solar and automotive. For more details, visit the investor relations website.

Ferroglobe PLC (NASDAQ: GSM) announced a significant agreement with the French Works Council on March 30, 2022, regarding its asset optimization program. This initiative, aimed at ensuring the company's sustainability in Europe, initially affected 355 jobs but has been revised to include 195 potential job terminations and 35 transfers. The restructuring plan is pending final approval from the French labor authority, expected by the end of April 2022. Ferroglobe specializes in silicon metal and alloys, serving various sectors including solar and automotive.

Ferroglobe PLC (NASDAQ: GSM) reported its strongest quarterly revenue since 2018, achieving sales of $569.8 million in Q4 2021, a 33% increase from Q3. Adjusted EBITDA reached a record $92.8 million, marking a 146.9% increase. The company returned to profitability with a net income of $66.3 million in Q4, contrasting with a substantial loss in Q3. Strong market demand and improved pricing across product categories bolstered performance. Going forward, Ferroglobe anticipates continued momentum in 2022, driven by favorable pricing and a comprehensive turnaround plan.

Ferroglobe PLC (NASDAQ:GSM) will release its fourth quarter and full year 2022 financial results after market close on March 2, 2022. A conference call is scheduled for March 3, 2022, at 8:30 AM EST, inviting participants to discuss the results. The call can be accessed via audio webcast or by phone, with specific dial-in numbers and a conference ID provided for attendees. Ferroglobe specializes in silicon metal, specialty alloys, and ferroalloys, serving multiple sectors including solar and automotive.