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Graftech International - EAF STOCK NEWS

Welcome to our dedicated page for Graftech International news (Ticker: EAF), a resource for investors and traders seeking the latest updates and insights on Graftech International 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.

News

GrafTech’s Board of Directors Issues Open Letter to Stockholders

Rhea-AI Summary
GrafTech International (NYSE: EAF) files proxy materials for its 2024 Annual Meeting of Stockholders, urging stockholders to vote 'FOR' Board-recommended nominees. The company has taken decisive actions to address the cyclical downturn, including cost reductions and refinancing debt. The management team is implementing initiatives to navigate current challenges and capitalize on long-term growth opportunities. GrafTech is confident in its ability to restore revenue growth and enhance customer relationships through new product offerings and expanded contract terms. The company is well-positioned to benefit from the transition in the global steel industry towards EAF steelmaking and the growing EV market.
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GrafTech Announces Appointment of Timothy K. Flanagan as Chief Executive Officer and President

Rhea-AI Summary
GrafTech International (NYSE: EAF) appoints Timothy K. Flanagan as Chief Executive Officer and President, effective March 26, 2024. The Board is confident in his leadership abilities based on his extensive experience in the steel industry. Flanagan's appointment is seen as a strategic move to drive long-term growth and capitalize on the Company's strengths.
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GrafTech Statement on Open Letter from Dissident Stockholder

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GrafTech International Ltd. responds to an open letter from investor Nilesh Undavia, who intends to nominate himself for election to the Board of Directors at the 2024 Annual Meeting. GrafTech affirms its highly qualified Board and commitment to strong corporate governance practices.
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GrafTech Reports Fourth Quarter and Full Year 2023 Results

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GrafTech International Ltd. (NYSE: EAF) reported a net loss of $217 million in Q4 2023, with adjusted EBITDA of negative $22 million. The company announced cost rationalization and footprint optimization plans to tackle weak demand and pricing pressures. Key initiatives include indefinitely suspending production at the St. Marys facility and reducing overhead expenses, targeting annualized cost savings of $25 million. Despite challenging market conditions, GrafTech remains confident in its ability to meet customer needs and capitalize on long-term growth opportunities.
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GrafTech Statement on Director Nominations

Rhea-AI Summary
GrafTech International Ltd. confirms private investor Nilesh Undavia's intent to nominate two individuals for election to the Board of Directors at the 2024 Annual Meeting. The Company emphasizes its qualified and diverse Board committed to strong corporate governance practices. GrafTech will review Undavia's nominees and provide recommendations to the Board.
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GRAFTECH SHAREHOLDER ACTION REMINDER

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Faruqi & Faruqi, LLP is investigating potential claims against GrafTech International Ltd. (NYSE: EAF) for violating federal securities laws by making false statements regarding environmental issues in Monterrey, Mexico. Investors have until March 25, 2024, to seek lead plaintiff status in a class action lawsuit. GrafTech's stock price fell after disclosing operational suspensions and financial results showing a 62% sales decline and a net loss of over $7 million.
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GrafTech Announces Fourth Quarter and Full Year 2023 Earnings Conference Call and Webcast

Rhea-AI Summary
GrafTech International Ltd. (EAF) will hold its Fourth Quarter and Full Year 2023 Earnings Conference Call and Webcast on February 14, 2024, to discuss financial results and current business initiatives. The call will be hosted by senior management, and the financial results will be released before market open.
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GrafTech Announces Increased Public Float through Consortium Stock Distribution and Board Resignation

Rhea-AI Summary
GrafTech International Ltd. (NYSE: EAF) announced that its 25% shareholder, Brookfield Business Partners LP, distributed all 63.8 million of their shares to a consortium of investors, increasing the public float of the Company from approximately 75% to approximately 88%. This reduced Brookfield's ownership to approximately 12%, leading to the resignation of a Brookfield designated director from the Board of Directors.
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GrafTech Reports Third Quarter 2023 Results

Rhea-AI Summary
GrafTech International Ltd. (NYSE: EAF) reported a net loss of $23 million in Q3 2023, with adjusted EBITDA of $1 million. Sales volume was 24 thousand metric tons, and net cash provided by operating activities was $51 million. The decline in net sales was due to softness in demand for graphite electrodes and a shift in business mix. The company remains focused on managing costs and making targeted investments to improve its strategic positioning.
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GrafTech Announces Third Quarter 2023 Earnings Conference Call and Webcast

Rhea-AI Summary
GrafTech International Ltd. to hold Q3 2023 Earnings Conference Call on November 3, 2023
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FAQ

What is the current stock price of Graftech International (EAF)?

The current stock price of Graftech International (EAF) is $1.25 as of February 21, 2025.

What is the market cap of Graftech International (EAF)?

The market cap of Graftech International (EAF) is approximately 262.4M.

What does GrafTech International Ltd. specialize in?

GrafTech specializes in the manufacturing of high-quality graphite electrode products essential for producing EAF steel and other metals.

Where are GrafTech's customers located?

GrafTech's customers are located in over 70 countries, spanning a wide range of industries and end markets.

How many manufacturing facilities does GrafTech operate?

GrafTech operates 20 principal manufacturing facilities across four continents.

How many employees does GrafTech have?

GrafTech employs approximately 3,000 people worldwide.

What are the two main product categories of GrafTech?

The two main product categories are graphite electrodes and petroleum needle coke products.

What is petroleum needle coke used for?

Petroleum needle coke is a key raw material used in the production of graphite electrodes.

What industries does GrafTech serve?

GrafTech serves industries including steel manufacturing, advanced energy, and latest-generation electronics.

What is the financial condition of GrafTech?

GrafTech maintains a strong financial condition supported by consistent revenue and operational efficiency.

What recent achievements has GrafTech made?

Recent achievements include expanding product lines and enhancing production capacities to meet global demand.

How does GrafTech maintain its competitive edge?

GrafTech invests in research and development and state-of-the-art technologies to stay at the forefront of technological advancements.
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