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 (NASDAQ: GSM) reported Q4 2020 results with sales of $320.5 million, a 22% increase from Q3 2020, but a 29% decline year-over-year. The net loss widened to ($84.1) million, compared to ($46.8) million in Q3 2020. Full Year 2020 sales totaled $1.14 billion, down 29% from 2019, with a net loss of ($194.1) million. Adjusted EBITDA was $5.7 million for Q4 and $32.8 million for the full year, reflecting operational challenges due to the pandemic. A strategic plan is underway to address these issues and improve financial performance in 2021.
Ferroglobe PLC has appointed David Girardeau as Vice President of People and Culture, effective immediately. With over 25 years of international experience, Girardeau is recognized for transforming organizations and developing talent globally. Previously, he served as Vice President of Human Resources at BIC and held various senior roles in renowned companies like Schlumberger. CEO Marco Levi emphasized the significance of this role for unifying Ferroglobe's workforce and navigating the company's transformation efforts. This leadership change is expected to enhance operational excellence and strategic direction.
On February 24, 2021, Globe Specialty Metals (GSM) welcomed the U.S. Commerce Department's decision to impose antidumping and countervailing duties of up to 160% on silicon metal imports from Bosnia and Herzegovina, Iceland, and Kazakhstan. This decision aims to support U.S. businesses against unfair pricing practices. The U.S. International Trade Commission will vote on March 24, 2021, regarding the impact of these imports on the U.S. industry. GSM has actively petitioned for these duties to promote fair competition in the market.
On February 23, 2021, the U.S. Department of Commerce announced final antidumping and countervailing duties of up to 160% on silicon metal imports from Bosnia and Herzegovina, Iceland, and Kazakhstan. This decision follows petitions filed by Globe Specialty Metals and Mississippi Silicon to combat unfair trade practices affecting the U.S. industry. The U.S. International Trade Commission will vote on March 24 to affirm the decision. The effort aims to level the playing field for American manufacturers and protect local economies from injury caused by subsidized foreign imports.
Ferroglobe PLC (NASDAQ:GSM) announced it will release its fourth quarter and full year 2020 financial results after the market closes on March 1, 2021. A conference call to discuss these results is scheduled for March 2, 2021, at 9:00 AM EST. Interested participants can join the call by dialing in or accessing via an audio webcast. Ferroglobe is a leading supplier of silicon metal and specialty alloys, serving multiple fast-growing markets globally.
On November 25, 2020, Ferroglobe entered confidentiality agreements with noteholders regarding its 9.375% Senior Notes due 2022. The discussions focus on obtaining $100 million in additional liquidity through a recapitalization plan, which includes $60 million in new senior notes and $40 million in equity funding. This initiative aims to extend the debt maturity profile and align stakeholders' interests. The CEO emphasized this as a pivotal moment, enhancing the company's balance sheet and operational flexibility. However, success in securing funding remains uncertain.
On January 27, 2021, the U.S. Department of Commerce announced preliminary duties of up to 7.41% on silicon metal imports from Malaysia, following the U.S. International Trade Commission's findings of material injury to the U.S. industry. Globe Specialty Metals and Mississippi Silicon, leaders in American silicon production, filed petitions against unfairly traded imports. The decision is anticipated to enhance U.S. market conditions for silicon metal, a critical component in various industries, including automotive and solar power. Final determinations for other countries will be released on February 21 and June 2021.
On January 27, 2021, Globe Specialty Metals, a subsidiary of Ferroglobe (NASDAQ:GSM), welcomed the U.S. Department of Commerce's decision to impose preliminary duties of 7.41% on silicon metal imports from Malaysia. This move follows an ITC investigation confirming that imports from Malaysia and other countries have harmed the U.S. silicon metal industry. The decision aims to rectify unfair pricing practices and protect domestic producers. Final determinations regarding duties for Malaysia will be made in early June 2021, while other investigations are expected to conclude on February 21, 2021.
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.
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