Ferroglobe - GSM STOCK NEWS

Ferroglobe PLC (NASDAQ: GSM) and Coreshell partner to develop low-cost, high-range EV batteries using metallurgical silicon, aiming to revolutionize the electric vehicle industry. The partnership aims to replace graphite and silane-based silicon in batteries, potentially increasing driving range by 30%. This innovative collaboration addresses the cost and range limitations of current electric vehicle batteries, offering a breakthrough solution for consumers and automakers.

LONGi and Ferroglobe announce a long-term supply agreement for high-quality silicon materials, showcasing a strategic partnership to enhance collaboration and support solar technology advancement.

Ferroglobe PLC (NASDAQ: GSM) announced financial results for Q4 and full year 2023, with 2024 adjusted EBITDA guidance of $100-170 million. The company reported a 36% Y/Y revenue decline, with adjusted EBITDA down 63% Y/Y. Q4 adjusted EBITDA declined by 42% from Q3 and 54% from Q4-22. Despite softening demand, the company posted solid financial and operational performance, initiated a quarterly cash dividend, and optimized energy contracts.

Ferroglobe PLC (NASDAQ: GSM) and LONGi, a solar technology company, have signed a long-term supply agreement for quartz and silicon. The partnership aims to enhance collaboration and support LONGi's goal of increasing purchases from leading Western suppliers. This agreement signifies a commitment to operational excellence and traceability in the solar industry.

Ferroglobe PLC (NASDAQ: GSM) announces the full redemption of its 9.375% Senior Secured Notes due 2025, amounting to $147,623,624, plus accrued interest and call premium. The redemption date is expected to be on February 16, 2024. The company plans to use cash on the balance sheet for the redemption. This move signifies a significant milestone for Ferroglobe, as it has successfully reduced its adjusted gross debt by approximately $370 million since the end of 2022, highlighting its strong ability to generate free cash flow. The reduction in debt level and redemption of the notes indicate the company's success in strengthening its balance sheet. This action is expected to enhance the company's financial flexibility, enabling the implementation of a capital return policy and providing more attractive avenues for debt financing in the future. The repurchases and redemption of the notes are estimated to save the company approximately $32 million in annual interest expense compared to 2022.

Ferroglobe PLC (NASDAQ: GSM) will release its fourth quarter and full-year financial results on February 21, 2024, and host the quarterly earnings call on February 22, 2024. Conference call participants can pre-register for dial-in numbers and a personal PIN. A simultaneous audio webcast and replay will also be accessible.

Ferroglobe PLC (NASDAQ: GSM) announced Q3-23 financial results with revenue of $416.8M, down 9% over the prior quarter. Adjusted EBITDA was $104.5M, down 1% over the prior quarter. The company acquired a high-quality quartz mine in the U.S. to meet increasing demand for silicon metal by solar and EV battery markets.

Ferroglobe PLC announces the acquisition of a high-purity quartz mine in South Carolina for $11 million in cash. An additional $4 million will be spent on infrastructure. The mine has a capacity of over 300kt per year and will increase Ferroglobe's mining capacity by 50%. Production is expected to start in the second half of 2024.

Ferroglobe PLC to release Q3 financial results and host earnings call