GrafTech reports Q2 adjusted EPS (2c), consensus (1c)

Reports Q2 revenue $185.56M, consensus $177.33M. “During the Q2 we achieved sequential improvement in key operating and financial metrics, as the business began to recover from the impact of the suspension of our operations in Mexico in late 2022,” said Marcel Kessler, CEO and President. “This included quarter-over-quarter growth in sales volume and adjusted EBITDA, along with a modest reduction in costs on a per metric ton basis, consistent with our expectations. As we proceed through the second half of 2023, we are seeing ongoing softness in the commercial environment as steel industry production remains constrained by global economic uncertainty. As a result, we have tempered our outlook for the last six months of 2023.”