NYSE$EAF
GrafTech International Ltd. · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Announced first quarter results, successfully executing strategic initiatives to reduce costs and preserve long-term flexibility.
GrafTech International Ltd. reported a net loss of $31 million, or $0.12 per share, and adjusted EBITDA of $0.2 million for the quarter ended March 31, 2024. The company is focused on managing costs and enhancing customer engagement amid a weak commercial environment.
- Net loss of $31 million, or $0.12 per share.
- Adjusted EBITDA of $0.2 million.
- Net cash used in operating activities of $1 million and adjusted free cash flow of negative $11 million.
- Significant cost improvement reflects actions to aggressively address all elements of our cost structure.
Headline financials
Revenue & EPS history
GrafTech · Revenue · Quarterly
$137M
Forward guidance
GrafTech expects near-term demand for graphite electrodes to remain weak due to persistent challenges in the commercial environment and constrained steel industry production. Sales volume in the second quarter of 2024 is expected to be broadly in line with sales volume for the first quarter of 2024 and we continue to expect a modest year-over-year improvement in sales volume for the full year. The company now anticipates a mid-teen percentage point decline compared to 2023 in it's full year 2024 cash cost of goods sold per MT.
Tailwinds
- Sales volume in the second quarter of 2024 is expected to be broadly in line with sales volume for the first quarter of 2024
- Expect a modest year-over-year improvement in sales volume for the full year.
- The company is taking strategic actions to reduce fixed manufacturing costs.
- Taking additional actions to reduce variable costs, including certain raw materials and energy.
- Anticipate improvement in sales and production volume levels.
Headwinds
- Demand for graphite electrodes in the near term will remain weak.
- Steel industry production remains constrained by global economic uncertainty.
- Challenging pricing dynamics have persisted in most regions.
- Commercial environment remains challenging.
- The company remains selective in the commercial opportunities it chooses to pursue.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
-4.0%
Avg return
Earnings day
-4.9%
Avg return
5 days after
-3.1%
Avg return
30 days after
39%
13 / 33 earnings
Positive
+14.3%
Q4 2020
Best reaction
-46.2%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2026 | -1.7% | +11.2% | +15.6% | |
| Q4 2025 | -46.2% | -51.7% | -62.8% | |
| Q3 2025 | -1.9% | -24.7% | -30.0% | |
| Q1 2025 | +7.8% | -3.1% | +59.3% | |
| Q4 2024 | -9.4% | -31.5% | -22.1% | |
| Q3 2024 | +3.9% | +2.4% | -7.2% | |
| Q2 2024 | -3.5% | -8.9% | -13.0% | |
| Q1 2024 | +3.1% | +3.7% | +10.6% | |
| Q4 2023 | +7.6% | +5.3% | +26.5% | |
| Q3 2023 | -23.6% | -28.9% | -22.1% | |
| Q2 2023 | -21.8% | -15.7% | -31.5% | |
| Q1 2023 | -9.9% | -14.0% | -5.7% | |
| Q4 2022 | -16.2% | -17.9% | -12.3% | |
| Q3 2022 | -3.1% | -10.5% | +7.6% | |
| Q2 2022 | -13.0% | -11.6% | -25.6% | |
| Q1 2022 | -8.9% | -13.0% | -2.0% | |
| Q4 2021 | -12.6% | -8.0% | -13.2% | |
| Q3 2021 | +12.7% | +11.4% | +5.6% | |
| Q2 2021 | -6.6% | -0.3% | -4.1% | |
| Q1 2021 | -2.0% | -6.2% | -2.0% | |
| Q4 2020 | +14.3% | +20.4% | +11.8% | |
| Q3 2020 | -9.3% | +0.3% | +39.2% | |
| Q2 2020 | +9.3% | +9.3% | +1.9% | |
| Q1 2020 | -14.3% | -14.8% | +11.5% | |
| Q4 2019 | -5.6% | -5.4% | -31.9% | |
| Q3 2019 | +2.2% | +8.6% | -3.0% | |
| Q2 2019 | -1.6% | -5.3% | +9.0% | |
| Q1 2019 | +2.2% | +6.7% | -13.4% | |
| Q4 2018 | +0.8% | +7.6% | -5.8% | |
| Q3 2018 | -0.6% | -4.3% | -13.6% | |
| Q2 2018 | +0.4% | -2.5% | -15.6% | |
| Q4 2017 | +8.3% | +14.0% | +18.6% | |
| Q1 2018 | +8.3% | +14.0% | +18.6% | |
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