GrafTech Q1 net loss $31M, adjusted EBITDA $0.2M; cost cuts 18% per MT

GRAFTECH INTERNATIONAL LTD

2024-Q1 EPS reported -$0.12 revenue$136,584,000

Net loss $31M ($0.12/share) vs $7M loss in Q1 2023; adjusted net loss $25.2M.
Adjusted EBITDA $0.2M vs $15.1M in Q1 2023 on lower prices and mix; cost per MT down 18%.
Revenue $137M (-2% YoY); sales volume 24.1k MT (+43%); non-LTA price ~$4,400/MT (-27%).
Full-year cash COGS per MT now expected to decline mid-teen % (prior low-teen %).
Arbitration resolved in GrafTech's favor during Q1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GRAFTECH INTERNATIONAL LTD reported first quarter of 2024 (three months ended March 31, 2024) results: revenue $137 million, net income $31 million loss, EPS $0.12 loss per share.

Period: first quarter of 2024 (three months ended March 31, 2024)
Revenue: $137 million
Net income: $31 million loss
EPS: $0.12 loss per share
Result: reported results

Exact text from the filing

Net sales for the first quarter of 2024 were $137 million, a decrease of 2% compared to $139 million in the first quarter of 2023. The decline primarily reflected a decrease in the weighted-average realized price for volume derived from short-term agreements and spot sales ("non-LTA") and a shift in the mix of our business from volume derived from our take-or-pay agreements that had initial terms of three-to-five years ("LTA") to non-LTA volume. These factors were offset by a 43% increase in sales volume in the first quarter of 2024, compared to the same period in 2023. Net loss for the first quarter of 2024 was $31 million, or $0.12 per share.

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Source: SEC EDGAR

accession 0000931148-24-000061

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