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GrafTech reports Q4 adjusted EPS 17c, consensus 22c
The Fly

GrafTech reports Q4 adjusted EPS 17c, consensus 22c

Reports Q4 revenue $247.52M, consensus $221M. "Our year-over-year performance for the fourth quarter was impacted by higher costs, softer industry demand and the impact of the temporary suspension of our operations in Mexico," said Marcel Kessler, CEO and President. "As we announced in November, we are pleased to have reached an agreement that allowed for the restart of our Monterrey, Mexico facility. While our activities to ramp back up are proceeding according to plan, we expect the negative impact of the suspension, ongoing inflationary pressures and the effects of slowing global economic growth on our operating performance in 2023 will be significant, particularly in the first half of the year." "We remain disciplined in our approach to managing costs and allocating capital," saidKessler. "We are aligning our production to reflect current market demand while remaining focused on delivering excellent customer service and being highly responsive to customers’ needs. As we look ahead, we have identified opportunities to make targeted investments to strengthen our strategic position, commercial capabilities and product offerings. Through execution of these cost actions and investments, we are confident GrafTech will successfully navigate the near-term environment and emerge well positioned to benefit from the anticipated long-term demand growth for graphite electrodes."

Published first on TheFly

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