NYSE$EAF
GrafTech International Ltd. · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
GrafTech reported second quarter results with net income of $93 million and Adjusted EBITDA of $151 million.
GrafTech's Q2 2020 net sales were $281 million, with a net income of $93 million, or $0.35 per share. Adjusted EBITDA was $151 million. The company generated $148 million in cash flow from operating activities and ended the quarter with a liquidity position of approximately $435 million.
- Net sales for the quarter ended June 30, 2020 were $281 million, compared to $480 million in the second quarter of 2019.
- Net income for the second quarter of 2020 was $93 million, or $0.35 per share, compared to $196 million, or $0.68 per share in the second quarter of 2019.
- Adjusted EBITDA was $151 million in the second quarter of 2020 compared to $284 million in the second quarter of 2019.
- Cash flow from operating activities was $148 million in the second quarter of 2020, compared to $202 million in the comparable period of 2019.
Headline financials
Revenue & EPS history
GrafTech · Revenue · Quarterly
$281M
Forward guidance
The second half of 2020 will continue to be challenging as GrafTech and its customers face macro-economic headwinds. Overall demand and pricing are expected to remain low for the remainder of 2020.
Tailwinds
- The company has full confidence in the strengths of the Electric Arc Furnace and graphite electrode businesses.
- The environmental and economic attributes of these industries are key advantages and position them for continued growth over the longer term.
- GrafTech is well positioned to navigate the challenges of the current environment and the opportunities in the future recovery given its leadership position in the industry.
- GrafTech has strong cash flows.
- GrafTech has an advantaged cost position.
Headwinds
- The second half of 2020 will continue to be challenging as GrafTech and its customers face macro-economic headwinds.
- The company foresees a measured recovery in the industry when the pandemic eases as customers work through inventory levels that were elevated prior to the onset of the pandemic.
- Overall demand is expected to remain low for the remainder of 2020.
- Pricing is expected to remain low for the remainder of 2020.
- The current market continues to challenge GrafTech's customers including those with LTAs.
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 Q2 2020
-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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