Welcome to our dedicated page for Ferroglobe news (Ticker: GSM), a resource for investors and traders seeking the latest updates and insights on Ferroglobe stock.
Ferroglobe PLC (NASDAQ: GSM) is a producer of silicon metal, silicon-based specialty alloys, manganese-based specialty alloys and ferroalloys, supplying customers in end markets such as solar, electronics, automotive, consumer products, construction and energy. This news page aggregates company announcements, earnings releases and other public updates related to GSM.
Readers can review quarterly and annual financial results, where Ferroglobe reports sales, adjusted EBITDA, net income or loss, cash and debt metrics, and detailed performance by product category. These releases often discuss market conditions, demand trends in steel and foundry sectors, raw material and energy costs, and the impact of trade measures in the U.S. and European Union on silicon metals, silicon alloys and manganese alloys.
The news flow also covers capital allocation and shareholder matters, including disclosures on quarterly cash dividends, share repurchases and index membership such as inclusion in the Russell 2000 and Russell 3000 indexes. Announcements of earnings call schedules provide information on upcoming webcasts and conference calls for investors and analysts.
In addition, Ferroglobe’s updates highlight strategic and partnership developments, such as its role as a key materials partner to Coreshell, a battery technology company working on silicon anode lithium-ion batteries. These items illustrate how Ferroglobe’s silicon products are being used in emerging applications, including electric vehicles, robotics and defense-related battery systems.
By following this page, users can access a chronological record of GSM-related press releases and official communications, covering financial performance, trade and regulatory developments, capital returns, index changes and technology partnerships.
Ferroglobe PLC (NASDAQ:GSM) has appointed Anis Barodawalla as Vice President, Investor Relations and Corporate Strategy. He succeeds Gaurav Mehta, who left for a new opportunity in the United States. Barodawalla brings over 20 years of experience from Dow Chemical Company, where he held senior finance and strategy roles. His expertise in business strategy and portfolio management aligns with Ferroglobe's focus on developing new strategies for growth and value creation. CEO Marco Levi expressed confidence in Barodawalla's immediate impact on the company’s strategic goals.
Ferroglobe PLC (NASDAQ: GSM) reported a record revenue of $840.8 million for Q2 2022, up 17.6% from the previous quarter, driven by strong demand and higher pricing across product categories. Adjusted EBITDA was $303.2 million, marking a 25.7% increase, with a margin improvement to 36.1%. Net profit climbed to $185.1 million, or $0.98 per share. Notably, net debt decreased significantly to $194 million from $342 million, bolstering liquidity to $306.5 million. The company also launched an inaugural ESG report and announced a revised cost-saving target of $225 million.
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.