EarningsQ2 2026 Earnings Report
MX:EAF Q2 2026 EPS Results
Actual EPS-$25.08
Consensus EPS-$24.93
Beat/MissMissed by -$0.15
One Year Ago EPS-$27.30
MX:EAF Q2 2026 Revenue Results
Actual Revenue$2.17B
Expected Revenue$2.13B
Beat/MissBeat by +$40.01M
YoY Revenue Growth-3.40%
Earnings Announcement Details
QuarterQ2 2026
Date07/24/2026
TimeBefore Open
Conference CallFriday, July 24, 2026
MX:EAF Upcoming Earnings
GrafTech International's next earnings date is estimated for October 30, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:EAF Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a balance of operational and commercial progress (volume growth, higher utilization, cost reductions, order book commitments, liquidity and vertical integration) alongside persistent near-term challenges (realized pricing pressure, low EBITDA, negative free cash flow, industry oversupply, and input-cost inflation). Management is focused on executing pricing, cost and strategic initiatives to drive recovery with benefits expected to accrue into 2027.Company Guidance
Sales Volume Growth and U.S. Strength
Sales volume rose to ~31,000 metric tons, representing 8% year-over-year growth and 10% sequential growth; U.S. sales volume increased 29% year-over-year, reflecting strong domestic demand.
Production and Capacity Utilization Improvement
Production exceeded 33,000 metric tons in the quarter and company capacity utilization reached 74% — the highest quarterly level since 2022; U.S. steel capacity utilization reached 80% year-to-date.
Commercial Pricing Commitments and Order Book Momentum
Management secured customer commitments at prices on average more than 15% above pre-announcement levels and reported more than 90% of anticipated volume committed in the order book, signaling commercial traction even though realized pricing will reflect these commitments over time.
Manufacturing Efficiency and Lower Cash COGS
Cash cost of goods sold per metric ton declined ~9% sequentially and ~6% year-over-year due to improved production efficiency and higher utilization; company reconfirmed an expectation for a modest year-over-year reduction in cash COGS and long-term cash COGS guidance of ~$3,600–$3,700/ton.
Vertical Integration and Needle Coke Advantage
GrafTech benefits from captive needle coke supply (Port Lavaca, TX), insulating it from some market tightness; market intelligence shows needle coke price increases of roughly $200–$300/ton for third quarter and beyond, which could support electrode pricing and provides GrafTech a strategic advantage.
Safety Performance
Total recordable incident rate (TRIR) improved to 0.35 year-to-date, reflecting continued focus on employee safety and operational discipline.
Liquidity and Financial Flexibility
Ended the quarter with approximately $253 million of total liquidity (about $145 million cash and ~$108 million revolver availability), drew the remaining $100 million under a delayed draw term loan, and have no material debt maturities until December 2029; filed a shelf and established an ATM program to expand financing optionality.
Strategic and Policy Positioning
Company is actively engaged in trade cases and policy advocacy (ITC preliminary injury finding, pending Commerce determinations) and is leveraging EU CBAM / trade protections and partnerships to support longer-term market stability and pricing discipline.
MX:EAF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed