GrafTech

May 06, 2020

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Mar 31, 2020

GrafTech Q1 2020 Earnings Report

Announced first quarter 2020 results, including net income of $122 million and Adjusted EBITDA of $179 million.

Key Takeaways

GrafTech International Ltd. reported a decrease in net sales for the quarter ended March 31, 2020, with $319 million compared to $475 million in the first quarter of 2019, driven by lower sales volumes, customer inventory destocking, lower steel production levels, and the impact of COVID-19. Net income decreased to $122 million, or $0.45 per share, compared to $197 million, or $0.68 per share in the first quarter of 2019. Adjusted EBITDA also decreased to $179 million from $284 million in the same period last year.

Net sales for the quarter ended March 31, 2020 were $319 million compared to $475 million in the first quarter of 2019.

Net income for the first quarter of 2020 was $122 million, or $0.45 per share, compared to $197 million, or $0.68 per share in the first quarter of 2019.

Adjusted EBITDA was $179 million in the first quarter of 2020 compared to $284 million in the first quarter of 2019.

Ended the first quarter of 2020 with a strong liquidity position of approximately $400 million, consisting of cash and cash equivalents of $152 million and availability of $247 million under our revolving credit facility.