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Ferroglobe Reports Third Quarter Results of 2019

Written by Customer Service on . Posted in Public Companies.

Sales of $381.7 million; Net Loss of $(140.1) million; Adjusted EBITDA of $(7.2) millionQ3 sales of $381.7 million, compared to $409.5 million in Q2 2019 and $524.4 million in Q3 2018
Q3 net loss of $(140.1) million compared to a net loss of $(43.7) million in Q2 2019 and a net loss of $(2.9) million in Q3 2018, with the Q3 2019 net loss including a goodwill impairment charge of $174.0 millionQ3 adjusted net loss attributable to Parent of $(16.1) million compared to a net loss of $(22.2) million in Q2 2019 and a net loss of $(0.1) million in Q3 2018Q3 adjusted EBITDA of $(7.2) million compared to $5.0 million in Q2 2019 and $43.9 million in Q3 2018Successful closing of the divestiture of FerroAtlántica, S.A.U. on August 30, 2019, resulting in gross proceeds of $171.2 million and a profit on disposal of $80.7 millionSuccessful closing of a new, five-year $100 million North American asset-based revolving credit facility on October 11, 2019 and repayment of the Company’s previous revolving credit facilityFurther operational changes announced to the global production platform in an effort to streamline operations, adapting production to reduced demand and decreasing inventory levelsLONDON, Dec. 02, 2019 (GLOBE NEWSWIRE) — Ferroglobe PLC (NASDAQ: GSM) (throughout, “Ferroglobe”, the “Company”, or the “Parent”), the world’s leading producer of silicon metal, and a leading silicon- and manganese-based specialty alloys producer, today announced results for the third quarter of 2019.Earnings Highlights

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