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Mar 31, 2022
GrafTech Q1 2022 Earnings Report
Reported strong financial results driven by solid execution and favorable industry demand trends.
Key Takeaways
GrafTech International Ltd. announced strong first-quarter results with net income of $124 million, or $0.47 per share. The company experienced increased sales and production volume, as well as improved pricing trends. They also reduced debt by $70 million and repurchased $30 million of common stock.
Net income of $124 million, or $0.47 per share, and adjusted earnings per share of $0.48.
Adjusted EBITDA of $170 million, for a 46% adjusted EBITDA margin.
Sales volume of 43 thousand metric tons increased 16% compared to the first quarter of 2021.
Generated cash flow from operating activities of $146 million, a 20% increase compared to the first quarter of 2021.
Forward Guidance
The overall fundamentals in the steel industry are strong. Demand for graphite electrodes will continue to increase. The demand for petroleum needle coke will continue to expand rapidly.
Positive Outlook
- Solid steel market capacity utilization rates, particularly in North America.
- Industry efforts to decarbonize.
- Ability to deliver high-quality graphite electrodes to our customers.
- Capitalizing on our low-cost structure.
- Substantial vertical integration into petroleum needle coke.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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