Ferroglobe - GSM STOCK NEWS

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.

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.