Ferroglobe Reports Fourth Quarter and Full Year 2024 Financial Results

Core Viewpoint - Ferroglobe PLC reported a challenging financial performance for Q4 2024, with significant declines in sales and adjusted EBITDA, while providing guidance for 2025 adjusted EBITDA between $100 million and $170 million, reflecting market uncertainties [2][4]. Financial Highlights - Q4 2024 sales were $367.5 million, down 15.2% from Q3 2024 and 2.2% year-over-year [3][5]. - Net loss attributable to the parent was $46.4 million in Q4 2024, compared to a profit of $18.8 million in Q3 2024 [3][13]. - Adjusted EBITDA for Q4 2024 was $9.8 million, a decrease of 83.7% from Q3 2024 [3][15]. - Full-year 2024 adjusted EBITDA was $153.8 million, down 51.2% from $315.2 million in 2023 [3][16]. Product Category Performance - Silicon Metal: Revenue decreased by 16.6% in Q4 2024 to $161.3 million, with shipments down 12.5% [7][9]. - Silicon-Based Alloys: Revenue fell 16.4% in Q4 2024 to $85.1 million, with shipments down 13.3% [8][9]. - Manganese-Based Alloys: Revenue decreased by 12.5% in Q4 2024 to $78.5 million, despite a 5.0% increase in shipments [10][11]. Cash Flow and Capital Management - Operating cash flow for Q4 2024 was $32.1 million, with full-year operating cash flow at $243.3 million [18][19]. - The company repurchased approximately 482,000 shares in Q4 2024 and increased its quarterly dividend by 7.7% to $0.014 per share [5][21]. Trade Measures and Market Outlook - Ferroglobe is benefiting from trade measures in the U.S. and Europe aimed at stabilizing the market by imposing duties on imports from certain countries [2][5]. - The company anticipates demand improvement in the second half of 2025, despite current market uncertainties [2][4].