NYSE$EAF
GrafTech International Ltd. · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
GrafTech's third quarter financial results were reported, showing resilience amidst a challenging environment, with net income of $94 million and Adjusted EBITDA of $153 million.
GrafTech International Ltd. announced third-quarter results with net sales of $287 million, net income of $94 million, and Adjusted EBITDA of $153 million. The company proactively managed through the COVID-19 crisis and saw a measured recovery in global steel markets.
- Net sales for the quarter were $287 million, compared to $421 million in the third quarter of 2019, reflecting reduced sales volumes due to COVID-19 and customer inventory destocking.
- Net income for the third quarter was $94 million, or $0.35 per share, compared to $176 million, or $0.61 per share in the third quarter of 2019.
- Adjusted EBITDA was $153 million in the third quarter of 2020, compared to $245 million in the third quarter of 2019.
- The company ended the quarter with a strong liquidity position of approximately $406 million, including $159 million in cash and cash equivalents.
Headline financials
Revenue & EPS history
GrafTech · Revenue · Quarterly
$287M
Forward guidance
For the remainder of 2020, GrafTech anticipates full year LTA sales volumes to be above the midpoint of the expected range of 100 thousand - 115 thousand MT and LTA revenue between $1,000 million and $1,080 million.
Tailwinds
- Full year LTA sales volumes are expected to be above the midpoint of the range of 100 thousand - 115 thousand MT.
- Full year LTA revenue is expected to be between $1,000 million and $1,080 million in 2020.
- Estimated LTA volume for 2021 is projected to be 98-108 thousand MT.
- Estimated LTA volume for 2022 is projected to be 95-105 thousand MT.
- Estimated LTA volume for 2023 through 2024 is projected to be 35-45 thousand MT.
Headwinds
- Some customers are struggling to take their committed volumes.
- This is causing some non-performance and disputes, including a few arbitrations.
- The company will continue to work to preserve its rights under the LTAs.
- The general spot price of graphite electrodes continued to trend lower during the third quarter.
- The current market conditions are challenging for 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 Q3 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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