NYSE$EAF
GrafTech International Ltd. · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported fourth quarter and full year results, reflecting persistent softness in the commercial environment. A cost rationalization and footprint optimization plan was announced.
GrafTech International Ltd. reported a challenging year in 2023, with Q4 net loss of $217 million, impacted by a goodwill impairment charge of $171 million and LCM inventory valuation adjustment of $12 million. The company is taking actions to reduce costs and optimize its manufacturing footprint in response to ongoing softness in the commercial environment.
- Net loss of $217 million, or $0.85 per share, including a goodwill impairment charge of $171 million and a lower of cost or market ("LCM") inventory valuation adjustment of $12 million.
- Adjusted EBITDA of negative $22 million, including the LCM inventory valuation adjustment.
- Sales volume of 24 thousand metric tons ("MT").
- Net cash provided by operating activities of $9 million.
- Adjusted free cash flow of $4 million
Headline financials
Revenue & EPS history
GrafTech · Revenue · Quarterly
$137M
Forward guidance
GrafTech anticipates weak demand for graphite electrodes in the near term due to persistent softness in the commercial environment. They expect a modest year-over-year improvement in sales volume for 2024 and are taking actions to reduce costs and optimize their manufacturing footprint.
Tailwinds
- Anticipate a modest year-over-year improvement in our sales volume for 2024, most notably in the first quarter of 2024
- Actions to further reduce our cost structure and optimize our manufacturing footprint.
- Benefit of reduced market pricing for certain raw materials and energy
- Anticipated improvement in our sales and production volume levels
- Expected to result in a significant year-over-year decline in our cash cost of goods sold per MT.
Headwinds
- Expect demand for graphite electrodes in the near term will remain weak
- Reflecting persistent softness in the commercial environment
- Steel industry production remains constrained by global economic uncertainty
- Challenging pricing dynamics have persisted in most regions.
- Being selective in the commercial opportunities we choose 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 Q4 2023
-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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