Welcome to our dedicated page for GrafTech International Ltd. news (Ticker: EAF), a resource for investors and traders seeking the latest updates and insights on GrafTech International Ltd. stock.
GrafTech International Ltd. (symbol: EAF) is a globally recognized leader in the graphite materials industry with an extensive history of over 125 years. The company specializes in providing innovative solutions for some of the most demanding applications across various industries.
GrafTech's core business revolves around the manufacturing of high-quality graphite electrode products, which are essential in the production of Electric Arc Furnace (EAF) steel and other ferrous and non-ferrous metals. The company operates under a single reportable segment, Industrial Materials, divided into two main product categories: graphite electrodes and petroleum needle coke products. Petroleum needle coke is a critical raw material used in producing graphite electrodes.
GrafTech boasts a robust global presence, with customers in over 70 countries and a vast network of 20 principal manufacturing facilities across four continents. The company employs approximately 3,000 people, reinforcing its significant impact on the steel manufacturing, advanced energy, and cutting-edge electronics industries.
Recent achievements include the expansion of their product lines and the enhancement of production capacities to meet the growing global demand. GrafTech’s continuous focus on research and development has positioned it at the forefront of technological advancements within the graphite materials sector. The company's strategic partnerships and collaborations have further strengthened its market position.
The financial condition of GrafTech remains strong, supported by a consistent revenue stream from its diverse customer base and a commitment to operational efficiency. The ongoing projects and investments in state-of-the-art technologies reflect the company’s dedication to maintaining its competitive edge and delivering superior value to its stakeholders.
GrafTech International Ltd. continues to be a vital player in the global graphite materials market, providing indispensable products and solutions that drive innovation and efficiency across various industries.
GrafTech International (NYSE:EAF) has received a silver medal from EcoVadis for its sustainability performance, placing it among the top 15% of globally assessed companies. This represents an improvement from their bronze medal in the previous year.
The recognition reflects GrafTech's dedication to environmental, social, and governance (ESG) initiatives and transparency across their value chain. The EcoVadis assessment evaluates 21 sustainability criteria across four core themes: environment, labor and human rights, ethics, and sustainable procurement.
CEO Timothy Flanagan emphasized the company's commitment to positive change and responsible corporate citizenship, highlighting their contributions to steel sustainability across their global manufacturing network. EcoVadis has rated more than 130,000 companies worldwide.
GrafTech International (NYSE: EAF) announced that its subsidiaries have commenced exchange offers for their existing notes. The exchange offers include GrafTech Finance's 4.625% senior secured notes due 2028 and GrafTech Global's 9.875% senior secured notes due 2028, to be exchanged for new second lien notes due 2029 with the same interest rates. Supporting Noteholders representing approximately 89% of the 4.625% Notes and 72% of the 9.875% Notes have agreed to participate.
The exchange offers include consent solicitations to modify the existing notes' indentures, requiring majority holder consent to eliminate restrictive covenants and 66 2/3% consent to release collateral. The offers will expire on December 20, 2024, at 5:00 pm NYC time.
GrafTech International (NYSE: EAF) has announced a significant financial restructuring agreement with its lenders. The transaction includes $175 million in new senior secured first lien term loans and $100 million in delayed draw term loans available for 19 months. The company will also exchange existing notes for new second lien notes maturing in 2029 and establish a new $225 million revolving credit facility extending to November 2028. This restructuring is expected to increase the company's liquidity from $254 million to $529 million as of September 30, 2024, helping GrafTech navigate through current industry-wide challenges.
GrafTech International (NYSE: EAF) reported third quarter 2024 financial results with net sales of $131 million and a net loss of $36 million ($0.14 per share). The company achieved a 9% year-over-year sales volume growth to 26.4 thousand metric tons and generated positive cash flow through working capital management. The company announced a new financing agreement including $175 million in new senior first lien term loans and commitments for an additional $100 million. Despite challenging market conditions, GrafTech reduced cash costs by 28% year-over-year and generated $20 million in adjusted free cash flow during Q3 2024.
GrafTech International (NYSE: EAF) has successfully regained compliance with the New York Stock Exchange's continued listing standards. The company had previously received a notice on August 7, 2024, for non-compliance due to its average closing stock price falling below $1.00 over a 30-day trading period. As of October 31, 2024, GrafTech has maintained the required minimum share price of $1.00 over the subsequent 30-day trading period, ensuring its continued listing on the NYSE.
GrafTech International (NYSE:EAF) has announced its Third Quarter 2024 Earnings Conference Call and Webcast, scheduled for Tuesday, November 12, 2024, at 10:00 a.m. (EST). The company will release its financial results for the quarter ended September 30, 2024, before market open on the same day. Senior management will host the call to discuss financial results and current business initiatives. The conference call will be accessible via toll-free dial-in for North American participants and through webcast on the company's website.
GrafTech International (NYSE: EAF) has announced the appointment of Rory O'Donnell as its new Chief Financial Officer and Senior Vice President, effective September 3, 2024. O'Donnell will report directly to CEO Timothy Flanagan and oversee all financial aspects of the company. He brings extensive financial expertise from his previous roles, including serving as Senior VP, Controller, and Principal Accounting Officer at Covia , where he also held the position of Interim CFO. Prior experiences include senior positions at Signet Jewelers and Cleveland-Cliffs Inc. O'Donnell holds a B.S. in Accounting from the University of Dayton and is a licensed CPA in Ohio.
GrafTech International (NYSE: EAF) has received a continued listing standards notice from the New York Stock Exchange (NYSE) due to its average closing stock price falling below $1.00 over a 30-day trading period. The company has a six-month cure period to regain compliance by achieving a closing share price and 30-day average closing price of at least $1.00. GrafTech intends to remain listed on the NYSE and is considering options to address the issue, including a potential reverse stock split subject to stockholder approval. The notice does not result in immediate delisting, and GrafTech's stock will continue to trade on the NYSE during the cure period. This development is not expected to impact the company's ongoing business operations or SEC reporting requirements.
GrafTech International (NYSE: EAF) reported its Q2 2024 financial results, showing sequential improvements despite ongoing market challenges. Key highlights include:
- Net sales of $137 million
- Net loss of $15 million, or $0.06 per share
- Adjusted EBITDA of $14 million
- 6% sequential increase in sales volume to 25.5 thousand MT
- Capacity utilization increased to 60%
- 18% reduction in cash costs per metric ton compared to Q2 2023
The company continues to face weak demand and challenging pricing dynamics in the graphite electrode market. However, GrafTech remains focused on cost reduction initiatives and improving customer engagement to navigate the current commercial environment.
GrafTech International (NYSE:EAF), a key producer of graphite electrode products for electric arc furnace (EAF) steel manufacturing, has released its 2023 Sustainability Report. This report outlines the company's ongoing efforts in environmental, social, and governance (ESG) areas. CEO Timothy Flanagan emphasized GrafTech's role in supporting environmentally friendly steel production through their products. The report is accessible on GrafTech's website, and feedback is encouraged via email at sustainability@graftech.com.
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