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) reported its strongest quarterly revenue since 2018, achieving sales of $569.8 million in Q4 2021, a 33% increase from Q3. Adjusted EBITDA reached a record $92.8 million, marking a 146.9% increase. The company returned to profitability with a net income of $66.3 million in Q4, contrasting with a substantial loss in Q3. Strong market demand and improved pricing across product categories bolstered performance. Going forward, Ferroglobe anticipates continued momentum in 2022, driven by favorable pricing and a comprehensive turnaround plan.
Ferroglobe PLC (NASDAQ:GSM) will release its fourth quarter and full year 2022 financial results after market close on March 2, 2022. A conference call is scheduled for March 3, 2022, at 8:30 AM EST, inviting participants to discuss the results. The call can be accessed via audio webcast or by phone, with specific dial-in numbers and a conference ID provided for attendees. Ferroglobe specializes in silicon metal, specialty alloys, and ferroalloys, serving multiple sectors including solar and automotive.
Ferroglobe PLC (NASDAQ: GSM) has announced the approval of €34.5 million in loans from the Spanish Fund for supporting strategic companies. This funding, proposed by SEPI, will support its wholly owned subsidiaries, Grupo Ferroatlántica, S.A.U. and Grupo Ferroatlántica de Servicios, S.A.U., as part of economic recovery efforts following the COVID-19 pandemic. The loans consist of two tranches maturing in 2025, with fixed and variable interest rates. CFO Beatriz García-Cos expressed gratitude, highlighting the support's role in enhancing competitiveness.
Ferroglobe PLC (NASDAQ: GSM) announced measures to address rising energy prices in Spain, including idling one furnace at the Sabon facility, a second at the Boo facility, and cutting production by 25% at the Monzón facility. These actions aim to mitigate the impact of energy costs while fulfilling customer obligations. CEO Marco Levi highlighted the importance of the company's asset flexibility and expertise in navigating these challenges. The company continues to monitor the situation and adjust operations as necessary.
Ferroglobe PLC (NASDAQ: GSM) announced the postponement of its virtual Investor Day to Q1-2022 due to a scheduling conflict. CEO Marco Levi expressed enthusiasm for this event, indicating efforts to enhance the company's competitiveness and pursue growth since he joined in 2020. The company, a leading producer of silicon metal and alloys, aims to engage with investors actively ahead of the rescheduled event. The announcement marks a significant engagement opportunity for stakeholders who are keen to understand the company's future plans.
Ferroglobe reported Q3 2021 sales of $429.2 million, a 2.5% increase from Q2 2021 and a 63.4% increase year-over-year. Despite this growth, the company faced a significant net loss of ($97.6) million, largely due to a $90.8 million one-time charge from debt extinguishment. Adjusted EBITDA rose to $37.6 million, up 10.3% from Q2 2021. The increase in working capital, driven by heightened demand, amounted to $61.6 million. CEO Marco Levi emphasized strong market conditions and expectations for improved financial performance in 2022.
Ferroglobe PLC (NASDAQ:GSM) will release its third quarter financial results after market close on November 16, 2021. The quarterly earnings call is scheduled for November 17, 2021, at 8:30 AM EST. Interested participants can join by dialing in or through an online audio webcast. Ferroglobe specializes in silicon metal and manganese-based alloys, catering to various sectors, including solar and automotive.
Ferroglobe PLC (NASDAQ: GSM) announced plans to restart its silicon metal facility in Selma, Alabama, through its subsidiary Globe Metallurgical Inc. (GMI). This restart involves a two-furnace operation with an annual capacity of 22,000 tons, aiming to resume one furnace by December 2021 and the second by March 2022. The project will create approximately 100 new local jobs and requires support from New Market Tax Credits for commissioning costs and equipment upgrades. CEO Marco Levi highlighted the facility's significance following the shutdown of another site in New York.
Ferroglobe reported Q2 2021 sales of $418.5 million, a 15.8% increase from Q1 2021 and a 67.4% rise year-over-year. Adjusted EBITDA reached $34.1 million, up 54.5% from Q1 2021. The company returned to profitability with a net income of $0.7 million, contrasting with prior losses. Operating cash flow was positive at $37.8 million, with net cash flow of $21.6 million. Despite a modest increase in working capital, the company faces challenges from fixed pricing contracts and inflationary pressures, impacting future performance.
Ferroglobe PLC (NASDAQ:GSM) will announce its second quarter financial results after market close on August 23, 2021. A conference call is scheduled for August 24, 2021, at 9:00 AM EDT, inviting stakeholders to join for insights on the company's financial performance. Participants can access the call by dialing the provided numbers or through an audio webcast. Ferroglobe specializes in silicon metal and specialty alloys, catering to sectors like solar, automotive, and construction. For investor queries, Gaurav Mehta is the contact person.
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