Financial Data and Key Metrics Changes - In Q2 2024, total sales increased by 15% from the prior quarter to $451 million, and adjusted EBITDA reached $58 million, up from $26 million, driven by strong pricing and sales volumes [9][16][21] - Adjusted EBITDA margin increased from 7% in Q1 to 13% in Q2, primarily due to increased pricing and volumes [17] - Operating cash flow was $2 million, while freight cash flow was negative $20 million due to inventory bills [10] Business Line Data and Key Metrics Changes - Silicon metal revenue in Q2 was $204 million, up 22% from the prior quarter, with shipments increasing by 18.2% to almost 63,000 tons [10] - Silicon-based alloys revenue was $105 million, down 6% from the prior quarter, with shipments down 8% [12] - Manganese-based alloys revenue was $98 million, up 48% from the prior quarter, with shipments increasing by 31% [14] Market Data and Key Metrics Changes - The U.S. Department of Commerce announced preliminary anti-dumping and countervailing duties of 283% and 748% respectively on Russian ferrosilicon imports, which represented approximately 35% of all ferrosilicon imports into the U.S. in 2023 [5] - European index prices for silicon metal were negatively impacted by lower-priced Chinese exports, while North American prices remained strong due to supply constraints [11] Company Strategy and Development Direction - The company signed an MOU with Coreshell to develop silicon-rich anodes for EV batteries, with testing showing significant improvements in battery performance [6][7] - The company is focusing on capital return policies, including a quarterly dividend of $0.13 per share and a share buyback program approved in June [8][19] Management Comments on Operating Environment and Future Outlook - Management expressed caution regarding the fourth quarter due to weak demand in the aluminum, foundry, and steel sectors, despite a strong Q2 performance [8][9] - The company anticipates a positive impact on business in 2025 from the ongoing investigations into ferrosilicon imports from Russia, Kazakhstan, Malaysia, and Brazil [5][9] Other Important Information - The company ended Q2 with a cash balance of $144 million, down from $160 million in Q1, primarily due to inventory build-up [19][20] - The company remains committed to maintaining a conservative balance sheet with gross debt remaining flat at $81 million [20] Q&A Session Summary Question: Outlook for Q4 and pricing dynamics - Management noted that Q4 is expected to be the weakest period due to weak demand in various segments, with pricing expected to weaken [24][25] Question: Results from Coreshell investment - Management highlighted unprecedented results in battery testing, with samples achieving almost 1,000 cycles of charging and discharging [27] Question: Stockpiling of manganese ore and cash flow - Management expects to see a release of working capital in Q4, with a conservative approach to cash and liquidity in the meantime [29][30] Question: Price weakness in silicon metal - Management attributed price weakness to increased low-priced imports from China and a slowdown in solar demand due to U.S. investigations [33][34] Question: Ferrosilicon trade case and future supply - Management confirmed expectations of muted volumes in U.S. ferrosilicon for the remainder of the year but anticipates an uptick in 2025 due to reduced imports from affected countries [35][36]

NASDAQ: GSM Driving innovation of critical materials essential to a sustainable future Second Quarter 2024 Results August 6, 2024 NASDAQ: GSM Forward-Looking Statements and Non-IFRS Financial Metrics This presentation contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts but are based on certain assumpti ...

Company Participants Conference Call Participants Alex Rotonen Before we get started with some prepared remarks, I'm going to read a brief statement. Please turn to Slide 2 at this time. Statements made by management during this conference call that are forward-looking are based on current expectations. Factors that could cause actual results to differ materially from these forward-looking statements can be found in Ferroglobe's most recent SEC filings and the exhibits to those filings, which are available ...

Ferroglobe PLC (GSM) reported break-even adjusted earnings in the first quarter of 2024, beating the Zacks Consensus Estimate of a loss of 2 cents. The company posted earnings per share of 5 cents in the year-ago quarter. Including one-time items, GSM reported a loss of 1 cent per share in the quarter under review against earnings of 11 cents per share in the year-ago quarter. GSM's revenues fell 2.2% year over year to $392 million in the quarter under review, owing to lower pricing in silicon metal and sil ...

Globe Specialty Metals (GSM) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.02. This compares to earnings of $0.05 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 100%. A quarter ago, it was expected that this producer of silicon metal and silicon-based alloys would post earnings of $0.04 per share when it actually produced earnings of $0.09, delivering a surprise of 125%. ...

LONDON, May 13, 2024 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ:GSM) announced today that it will issue first-quarter financial results after the market closes on Tuesday, May 14, 2024, and will host the quarterly earnings call on Wednesday, May 15, 2024, at 8:30 a.m. Eastern Time. To join via phone: Conference call participants should pre-register using this link: https://register.vevent.com/register/BI3710d5099e3c4756b47a1496c71ce9ab Once registered, you will receive the dial-in numbers and a personal PIN ...

Washington, D.C. 20549 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report For the transition period from to Commission fi ...

Ferroglobe PLC (NASDAQ:GSM) Q4 2023 Earnings Conference Call February 22, 2024 8:30 AM ET Company Participants Alex Rotonen - Vice President of Investor Relations Marco Levi - Chief Executive Officer Beatriz García-Cos - Chief Financial Officer Conference Call Participants Lucas Pipes - B. Riley Securities Martin Englert - Seaport Research Partners Operator Good morning ladies and gentlemen and welcome to Ferroglobe's Fourth Quarter and Full Year 2023 Earnings Call. At this time [Operator Instructions] I wo ...

Now I would like to turn the call over to Beatriz GarcÃa-Cos, our CFO review the financial results in more detail. Silicon metal volumes was up 13% over the prior quarter. The increase in volumes in Q3 was primarily due to a stronger shipments in North America, while the clients in Silicon Alloys and manganese alloys for a result of weak end markets particularly Spain. Average realized prices lower across all product categories as a result of continued price decline in index prices. Next slide, please. Our ...

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