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 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.
GrafTech International (NYSE:EAF) announced it will hold its Second Quarter 2024 Earnings Conference Call and Webcast on Friday, July 26, 2024, at 10:00 a.m. (EDT). Senior management will discuss the company's financial results for the quarter ending June 30, 2024, alongside current business initiatives. The financial results will be released prior to market open on the same day and will be accessible on the company's investor relations website.
Participants in North America can dial in toll-free at +1 (800) 717-1738, while overseas callers can use +1 (289) 514-5100, using conference ID: 40706. Additionally, live audio and archived replays of the conference call will be available via webcast on GrafTech's investor relations website.
GrafTech International (NYSE: EAF) is urging stockholders to vote for the Board-recommended nominees, Ms. Debra Fine and Mr. Anthony Taccone, using the WHITE proxy card for the upcoming Annual Meeting. The Board's nomination of these two individuals, supported by ISS, aims to enhance the company's governance and drive value for stockholders. GrafTech emphasizes the importance of every vote and urges stockholders to avoid voting for the dissident nominee, Mr. Nilesh Undavia.
In a recent press release, GrafTech International (NYSE: EAF) announced that leading proxy advisory firm Institutional Shareholder Services (ISS) recommended GrafTech stockholders vote 'FOR' the nominees recommended by GrafTech's Board of Directors, Ms. Debra Fine and Mr. Anthony Taccone, using the WHITE proxy card. ISS also recommended voting 'WITHHOLD' on dissident nominee Mr. Nilesh Undavia. The report highlighted that the board of GrafTech is addressing the company's issues effectively, indicating no need for further change at the board level.
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