Welcome to our dedicated page for Ferroglobe PLC Ordinary Shares news (Ticker: GSM), a resource for investors and traders seeking the latest updates and insights on Ferroglobe PLC Ordinary Shares stock.
Ferroglobe PLC (NASDAQ: GSM) is one of the world's largest producers of a wide variety of metal alloys and other metallic products. The company leverages state-of-the-art technology to deliver top-quality products that are essential components in numerous industrial and consumer applications. Specializing in silicon-based alloys, Ferroglobe also provides manganese and ferrosilicon alloys, along with silica fume.
Beyond its metal-related ventures, Ferroglobe is actively involved in hydro-electric power generation and mining, creating synergies that bolster its core operations. The company is strategically organized into several business areas, including electrometallurgy, mining, energy, and solar photovoltaic technologies, with operational units spread across the globe in countries such as Spain, the United States, France, Canada, South Africa, Argentina, Venezuela, and China.
Ferroglobe caters to a diverse customer base, serving industries like specialty chemicals, aluminum, solar energy, steel, and ductile iron foundries. Its business segments are categorized by geographical regions and product types, including North America - Silicon, Europe - Manganese, Europe - Silicon, South Africa - Silicon, and other segments.
The company’s recent accomplishments highlight its robust financial health. For instance, the third quarter of 2023 saw silicon metal revenue of $199 million, marking a 1.7% increase over the previous quarter. This uptick was driven by a 12.6% volume increase in North America, although average realized prices saw a 9.7% decline due to lower market index pricing in the U.S. and Europe. Adjusted EBITDA stood at $81 million, with an EBITDA margin of 41%, slightly lower than the second quarter. Cost improvements, mainly due to higher energy compensation, helped offset the price declines.
- Partnerships: Ferroglobe has formed strategic alliances, such as the recent collaboration aimed at developing cost-effective, long-range EV batteries utilizing metallurgical silicon.
- Financial Guidance: The company has increased its annual Adjusted EBITDA guidance to $130-170 million, reflecting confidence in its ongoing operations.
- Investor Relations: Alex Rotonen, CFA, serves as the Vice President of Investor Relations, and Cristina Feliu Roig holds the position of Executive Director of Communications & Public Affairs.
For more detailed updates and financial performance metrics, investors can visit Ferroglobe's investor relations page.
Ferroglobe PLC (NASDAQ:GSM) plans to release its second quarter financial results on August 15, 2022, after market close. A subsequent earnings call is scheduled for August 16, 2022, at 8:30 AM EDT. Participants can access the call by pre-registering through a provided link and will receive dial-in details. The company, a leading supplier in silicon and manganese-based alloys, serves diverse sectors, including solar and automotive markets. For more details, visit the investor relations page.
LONDON, July 11, 2022 (GLOBE NEWSWIRE) -- Ferroglobe announced the redemption of its 9.0% Senior Secured Notes due 2025, totaling $60 million, at 100% principal plus accrued interest. The redemption is scheduled for July 21, 2022, using cash from the balance sheet. CFO Beatriz Garcia-Cos indicated expectations of improved cash flow, allowing for significant debt reduction. Alongside this redemption, Ferroglobe purchased $19 million of its 9.375% notes, reducing overall gross debt by $79 million.
Ferroglobe PLC (NASDAQ: GSM) announced the closure of a new five-year, $100 million asset-based revolving credit facility on June 30, 2022. This facility, involving Globe Specialty Metals, Inc., is designed to enhance the company’s balance sheet and liquidity. No drawings were made at the time of closing. The facility's interest rate is based on SOFR plus a spread of 150-175 basis points. CFO Beatriz Garcia-Cos emphasized that this step offers flexibility for future corporate needs, reinforcing Ferroglobe's improving credit profile.
Ferroglobe PLC (NASDAQ: GSM) has announced a virtual Investor Day scheduled for July 12, 2022, starting at 8:30 AM EDT. The event will feature senior management discussing the company's business transformation, operational review, and growth prospects. Registration is required to attend the presentations and Q&A session. Ferroglobe is known for its production of silicon metal and specialty alloys for various industries, including solar, automotive, and energy. Forward-looking statements in the release underline potential uncertainties in achieving outlined goals.
Ferroglobe PLC (NASDAQ: GSM) announced a Memorandum of Understanding with REC Silicon to develop a sustainable solar supply chain in the U.S. The partnership aims to supply high purity silicon metal to support U.S. solar manufacturing, benefiting from recent investments by the Hanwha Group. Additionally, the project could create thousands of jobs and enhance local production capabilities. The MOU emphasizes collaboration to boost U.S. production and employment, leveraging Ferroglobe's facilities in West Virginia, Alabama, and Ohio, and REC Silicon's expertise in polysilicon.
Ferroglobe PLC (NASDAQ: GSM) announced important management changes to enhance operational and strategic execution. Dr. Benoist Ollivier has been appointed as Chief Technology & Innovation Officer while maintaining his role as Deputy CEO, focusing on high-value products like silicon-rich materials for batteries. Mr. Benjamin Crespy has been named Chief Operating Officer, tasked with overseeing operational strategies and optimizing assets for profitability. CEO Marco Levi emphasized that these leadership shifts support the company's goals for long-term growth and sustainability.
On May 25, 2022, Ferroglobe PLC (NASDAQ: GSM) announced the successful restart of its second furnace at the Selma, Alabama facility, boosting annual silicon metal capacity by 11,000 tons. This brings the total capacity of the facility to 22,000 tons, enhancing Ferroglobe's ability to meet growing demand in North America. CEO Marco Levi highlighted the importance of this restart for customer service and production optimization. The company is also considering the potential restart of its Polokwane, South Africa plant to meet broader customer needs.
Ferroglobe PLC (NASDAQ: GSM) reported record Q1 2022 results, with revenues of $715.3 million, up 26% from Q4 2021 and 98% year-over-year. Adjusted EBITDA soared 181.7% to $241.1 million, with a margin improvement to 33.7%. Net profit reached $150.8 million compared to $50 million in Q4 2021. The company cited strong pricing across product categories, improved liquidity, and operational enhancements. However, shipment declines in manganese-based alloys and challenges from energy costs were noted. The company is optimistic about further growth in Q2 2022.
Ferroglobe PLC (NASDAQ:GSM) will announce its first quarter financial results on May 10, 2022, after market close, followed by a quarterly earnings call on May 11, 2022, at 8:30 AM EDT. Interested parties can join the call by dialing in or accessing it via audio webcast. Ferroglobe specializes in silicon metal, specialty alloys, and ferroalloys, serving diverse fast-growing industries like solar and automotive. For more details, visit the investor relations website.
Ferroglobe PLC (NASDAQ: GSM) announced a significant agreement with the French Works Council on March 30, 2022, regarding its asset optimization program. This initiative, aimed at ensuring the company's sustainability in Europe, initially affected 355 jobs but has been revised to include 195 potential job terminations and 35 transfers. The restructuring plan is pending final approval from the French labor authority, expected by the end of April 2022. Ferroglobe specializes in silicon metal and alloys, serving various sectors including solar and automotive.
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