Shares of miner Ferroglobe (NASDAQ: GSM) were down 14.3% as of 1:45 p.m. EST today. In Q4 2020, net loss attributable to the Parent was $83.4 million, or ($0.49) per diluted share, compared to a net loss attributable to the Parent of $47.3 million, or ($0.28) per diluted share in Q3 2020. Q4 sales volumes of silicon metal increased 7.2%, silicon-based alloys increased 35.1%, and manganese-based alloys increased 45.6% versus Q3 2020. Given the speed and frequency of continuously evolving developments with respect to this pandemic and the uncertainties this may bring for the Company and the demand for its products, it is difficult to forecast the level of trading activity and hence cash flow in the next twelve months. Type a symbol or company name. Visit the Earnings Calendar to see dates for upcoming earnings announcements. Discussion of Fourth Quarter 2020 Results. Marco Levi, Ferroglobe’s Chief Executive Officer, commented, “Despite a challenging year, Ferroglobe delivered stronger financial results in 2020, and continued to generate positive EBITDA during the fourth quarter. ET. ]]>*/, *The upcoming earnings date is derived from an algorithm based on a company's historical reporting dates. Ferroglobe's realized average selling price for silicon metal was $2,215 per metric ton, up 0.1% from $2,211 in the prior quarter. That decline was a combination of lower sales volumes from COVID-related shutdowns and slightly lower prices for … All rights reserved, https://edge.media-server.com/mmc/p/td6yky7q, Adjusted net (loss) income attributable to the parent, Depreciation and amortization charges, operating allowances and write-downs, Profit for the period from discontinued operations, Loss (profit) attributable to non-controlling interest, Non-current receivables from related parties, Non-current restricted cash and cash equivalents, Current restricted cash and cash equivalents, Net loss (gain) due to changes in the value of asset, Gain on disposal of discontinued operation, Other amounts received/(paid) due to financing activities, Beginning balance of cash and cash equivalents, Exchange differences on cash and cash equivalents in foreign currencies, Current/Non-current restricted cash and cash equivalents, (Loss) profit for the period from discontinued operations, (Loss) profit on disposal of non-core businesses, Strategic plan currently in execution stage across all value creation areas; initial financial benefits being realized. Ferroglobe PLC (NASDAQ:GSM) went up by 27.67% from its latest closing price compared to the recent 1-year high of $1.20. ET. Additionally, the indenture governing the senior unsecured notes includes provisions which, in the event of a change of control, would require the Company to offer to redeem the outstanding senior unsecured notes at a cash purchase price equal to 101% of the principal amount of the senior unsecured notes, plus any accrued and unpaid interest. Download the investor presentation - earnings call slides. Ferroglobe invites all interested persons to participate on its conference call at 9:00 AM, Eastern Daylight Time. Copyright © 1998 - 2021 EarningsWhispers, - the professionals' earnings expectation. All information in this press release is as of the date of its release. Cost of sales was $225.9 million in Q4 2020, an increase from $166.2 million in the prior quarter. Comments (340) |. Ferroglobe's working capital improved by $15.3 million in the fourth quarter, primarily as a result of our emphasis on lowering raw materials and finished goods inventories across the portfolio. When autocomplete results are available use up and down arrows to review and enter to select. */ This financing would eliminate any risks of near-term debt maturities, and the new capital contribution would provide adequate support to fund our strategic plan.”. The Company’s segments include GMI, Globe Metais, Globe Metales, Solsil and Corporate. The Company has concluded that there are indications for potential impairment of goodwill, property, plant and equipment and deferred tax assets. Developing a reliable estimate of the potential impact on the results of operations and cash flow at this time is difficult as markets and industries react to the pandemic and the measures implemented in response to it, but our downside scenario analysis supports an expectation that the Company will have cash headroom to continue to operate throughout the next twelve months. LONDON, Aug. 21, 2020 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ:GSM) announced today that it will issue second quarter 2020 financial results after the close of the market on Monday, August 31, 2020 and will host the quarterly earnings call on Tuesday, September 1, 2020. On an adjusted basis, the Q1 2020 net loss was $(37.7) million, or $(0.22) per share on a fully diluted basis. An assessment of the company’s 5-year growth patterns shows that annual earnings fell an estimated -20.3% for the past 5-year period. Full Year 2019 Earnings Highlights . In Q4 2020, Ferroglobe posted a net loss of ($84.1) million, or ($0.49) per share on a fully diluted basis. Type a symbol or company name. For the quarter, the direct earnings premiums rose 30% year-over-year to $155 million. Additionally, during the fourth quarter the Company impaired the deferred tax assets related to tax losses in Spain, France and Argentina.The financial results presented for the fourth quarter and fiscal year ended as of December 31, 2020 are unaudited and may be subsequently materially adjusted, including as a result of the final conclusions on the impairment analysis, and the impact of the Tribunal Superior de Galicia decision. Management is pursuing additional sources of financing to increase liquidity to fund operations. Adjusted profit attributable to Ferroglobe ($,000): Past performance is not indicative of future results. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. Q4 2020 reported EBITDA was ($0.6) million, up from ($12.2) million in the prior quarter. Full Year 2020 Adjusted EBITDA was $32.8 million, versus $(29.2) million in the prior year. As we reported in the press release, the company sold CO2 emissions rights subsequent to quarter end in July and August. As a result, Ferroglobe’s actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company’s control. FRONT >> AGM Button. The dial-in number for participants in the United States is +1 646-741-3167 (conference ID: 6866274). Among other steps, the Company has implemented a coronavirus crisis management team, which has been meeting regularly to ensure the Company and its subsidiaries take appropriate action to protect all employees and ensure business continuity. Ferroglobe Plc Os (GSM) reported a Quarter December 2020 loss of $0.47 per share on revenue of $320.5 million.. Revenue fell 12.0% compared to the same quarter a year ago.Globe Specialty Metals Inc produces silicon metal and silicon-based alloys. Ferroglobe PLC (GSM) latest earnings report: revenue, EPS, surprise, history, news and analysis. Ferroglobe’s working capital continued to improve by $26 million in the second quarter. LONDON, May 24, 2019 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ:GSM) announced today that it will discuss first quarter 2019 financial results and Ferroglobe's business outlook on Tuesday, June 4, 2019. Marco Levi - … Beatriz García-Cos - Chief Financial Officer. The Company believes these metrics are important because they eliminate items that have less bearing on the Company’s current and future operating performance and highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. Ferroglobe has included these financial metrics to provide supplemental measures of its performance. Forward-looking statements contained in this press release are based on information currently available to the Company and assumptions that management believe to be reasonable, but are inherently uncertain. Throughout the year we progressed on addressing near-term priorities, while also diligently developing a multi-year strategic plan aimed at turning around the Company.” Dr. Levi added, “The collective efforts and actions of our global employees helped us successfully navigage 2020 and positions the Company well to capitalize on a pivotal 2021. For all of 2020, that metric gained 71% to reach $605 million. GSM: Ferroglobe PLC - Earnings Announcements. All earnings call transcripts on Ferroglobe PLC (GSM) stock. Beatriz García-Cos - Chief Financial Officer. Contents: Prepared Remarks. Other operating expenses amounted to $47.1 million in Q4 2020, an increase from $26.9 million in the prior quarter. Read or listen to the conference call. The Company is continuously evaluating how evolving customer demand and sales price evolution stand to affect the Company’s business and results in the next twelve months. On an adjusted basis, Full Year 2020 net loss was $(92.6) million, or $(0.98) per share. On February 1, 2021, the Company announced that it was in discussions with certain holders of the 9.375% Senior Notes due 2022 and key financial partners. During Q4 2020, total product average selling prices decreased by 3.5% versus Q3 2020. Beatriz García-Cos, Ferroglobe’s Chief Financial Officer, commented, “2020 tested our Company in many ways and despite all the financial pressures, we successfully navigated a turbulent year by making quick adjustments and driving cost savings across the all areas of the organization.” Ms. García-Cos added, “We have been exploring various financing options for some time now, and are excited to work towards closing the proposed financing. LONDON, March 01, 2021 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ: GSM) (“Ferroglobe”, the “Company”, or the “Parent”), a leading producer globally of silicon metal, silicon-based and manganese-based specialty alloys, today announced results for the fourth quarter and the full year 2020. Previous periods have been restated in order to show interest paid as net cash used in financing activities. Data Provided by Refinitiv. ET. Based on the provisions cited above, a change of control as defined in the indenture is unlikely to occur, but the matter it is not within the Company’s control. In Q4 2020, adjusted EBITDA was $5.7 million, or 1.8% of sales, compared to adjusted EBITDA of $22.2 million, or 8.5% of sales in Q3 2020, primarily due to higher costs incurred in Q4 2020. Ferroglobe PLC (NASDAQ:GSM) Q3 2020 Earnings Conference Call November 24, 2020 9:00 AM ET. Marco Levi - … Press Release reported on 11/13/20 that Ferroglobe PLC Schedules Third Quarter 2020 Earnings Investor Call for November 24, 2020. Moving on to Slide 8, Ferroglobe's realized average selling price for silicon metal declined by 1.6% to $2,320 per metric ton as compared to $2,358 per metric ton in the prior quarter. market cap $77.492M.. Conference call Highlights 1) Second quarter sales were $250 million 2) adjusted EBITDA positive $22.4 … 11:20 AM EST. Copy and paste multiple symbols separated by spaces. Revenue for the year was down 28% to $1.14 billion. Ferroglobe's working capital improved by $15.3 million in the fourth quarter, primarily as a result of our emphasis on lowering raw materials and finished goods inventories across the portfolio. This change allows for a fairer presentation of cash flow to users of the financial statements. The Company reported an adjusted EBITDA margin of 2.9% for Full Year 2020, compared to an adjusted EBITDA margin of (1.8)% for Full Year 2019. Ferroglobe PLC price target dropped to $16 from $17 at Stifel Aug. 29, 2016 at 8:17 a.m. In Q2, we increased our cash balance, ending the quarter with $153 million of total cash, up from $144 million in the prior quarter. Adjusted EBITDA of $5.7 million in Q4 2020 and $32.8 million in Full Year 2020. Ferroglobe PLC Schedules Third Quarter 2019 Earnings Investor Call for December 3, 2019. The decrease is mainly driven by a reduction in inventories, partially offset by strengthening of the Euro relative to the US Dollar. During the fourth quarter the Company registered an impairment the spare parts associated to the Niagara Falls facility. Stay up to date with lastest Earnings Announcements for Ferroglobe PLC from Zacks Investment Research … Please dial in at least five minutes prior to the call to register. ET. Get the hottest stocks to trade every … While 2021 is set for a 49.3% return in earnings, projections for the next 5 years are at 20% annually. The Company is based in London. LONDON, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ:GSM) announced today that it will issue fourth quarter and full year 2020 financial results after the close of … The Motley Fool - GSM earnings call for the period ending December 31, 2020.
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