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GrafTech Slips After Mixed Q1 Results

By Akanksha Bakshi
  • GrafTech International Ltd (NYSE:EAF) reported first-quarter sales growth of 20.3% year-over-year to $366.25 million, missing the consensus of $377.83 million.
  • Adjusted EPS improved to $0.48 from $0.37 in 1Q21, beating the consensus of $0.44.
  • Sales volume increased 16% Y/Y. Production volume increased 28% Y/Y.
  • The gross margin contracted 412 bps to 47.8%. The operating profit increased to $152.9 million (+11.7% Y/Y), and the margin contracted by 322 bps to 41.7%.
  • Adjusted EBITDA increased by 9.4% Y/Y to $169.6 million, and margin contracted by 460 bps to 46.3%.
  • GrafTech generated cash from operating activities for Q1 of $146.32 million, compared to $122.43 million a year ago. Adjusted free cash flow was $129.9 million.
  • The company strengthened its balance sheet by reducing debt by $70 million. It repurchased an aggregate of $30 million of common stock during the quarter.
  • “Pricing trends continued to improve in the first quarter of 2022, following a strong finish to 2021. Our average non-LTA graphite electrode price was just over $6,000 per metric ton, consistent with our expectations, and up 19% sequentially from the fourth quarter. We also experienced strong year-over-year improvement in sales volume, production volume and capacity utilization,” commented CEO David Rintoul.
  • As of March 31, 2022, GrafTech had cash and equivalents of $85 million and total debt of ~$961 million.
  • GrafTech expects FY22 capital expenditures of $70 million - $80 million.
  • Price Action: EAF shares are trading lower by 6.15% at $8.54 on the last check Friday.
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Dive Deeper:
Fluor Stock Gains After Q1 Results, Reaffirms FY22 Guidance
Fluor Corp (NYSE:FLR) reported a first-quarter FY22 revenue decline of 6.7% year-over-year to $3.12 billion, beating the consensus of $2.88 billion. Revenue…
Vista Outdoor Q4 Earnings Tops Estimates; Provides Upbeat Q1, FY23 Outlook
Vista Outdoor Inc (NYSE:VSTO) reported fourth-quarter FY22 sales growth of 36% year-on-year to $808.6 million, beating the consensus of $760.87 million. Sporting Products sales…
Cognizant Technology Stock Slips After Hours On Mixed Q1 Results, Below Par Q2 Outlook
Cognizant Technology Solutions Corp (NASDAQ: CTSH) reported first-qu
Shopify Shares Drop Post Q1 Earnings Miss, Shrinking Margins
Shopify Inc (NYSE:SHOP) reported first-quarter FY22 sales growth of 22% year-on-year, to $1.20 billion, missing the consensus of $1.60 billion.  Revenue from Subscription…
One subscription that gives you access to news from hundreds of sites
Proto Labs Q1 Results Surpass Street Expectations
Proto Labs Inc (NYSE:PRLB) reported first-quarter revenue growth of 6.9% year-over-year to $124.2 million, beating the consensus of $122.02 million. Hubs generated…
Tile Shop Reports Mixed Q1 Earnings
Tile Shop Holdings Inc (NASDAQ:TTSH) reported first-quarter FY22 sales growth of 11.3% year-on-year, to $102.47 million, beating the consensus of $95.03 million. The…
Get all your news in one place