UK's Ferroglobe Q2 sales rise sequentially as adjusted EBITDA improves
UK's Ferroglobe Q2 sales rise sequentially as adjusted EBITDA improves
Overview
UK silicon metal producer's Q2 sales rose 8.9% sequentially, down 2.1% yr/yr
Adjusted EBITDA for Q2 rose to $13.1 mln from $3.3 mln in Q1
Company returned to breakeven adjusted EPS after prior quarter loss
Outlook
Company did not provide specific financial guidance for the current quarter or full year
Result Drivers
SILICON METAL VOLUMES - Higher shipments in EMEA and U.S. drove sequential sales growth, per co
ENERGY CONTRACT ADJUSTMENT - $59.9 mln positive fair value adjustment on long-term energy contracts contributed to net profit
COST EFFICIENCY - Improved operating performance and cost efficiency initiatives supported adjusted EBITDA growth, per CFO Beatriz García-Cos
Company press release: ID:nGNX2V7rXm
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| $378.6 mln | $374.8 mln (2 Analysts) |
Q2 Adjusted EPS |
| $0 | -$0.07 (2 Analysts) |
Q2 Adjusted EBITDA |
| $13.1 mln | $4.10 mln (2 Analysts) |
Q2 Adjusted EBITDA Margin |
| -2.50% |
|
Q2 Operating Free Cash Flow |
| $37 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the specialty mining & metals peer group is "buy"
Wall Street's median 12-month price target for Ferroglobe PLC is $6.00, about 84.6% above its August 3 closing price of $3.25
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 15 three months ago
Reuters Recommended Reads
Aug 4 - Ascent Industries Q2 net sales rise 38%, adjusted EBITDA turns positive
Aug 3 - Metallus Q2 sales beat estimates on shipment growth
Aug 4 - Germany's Evonik Q2 revenue up 11% on higher volumes and prices
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Recent news on Ferroglobe
See all newsFerroglobe PLC reports results for the quarter ended June 30 - Earnings Summary
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