Ferroglobe PLC Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 05:03 pm EST
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Ferroglobe PLC reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 416.81 million compared to USD 593.22 million a year ago. Net income was USD 40.88 million compared to USD 97.63 million a year ago. Basic earnings per share from continuing operations was USD 0.22 compared to USD 0.52 a year ago. Diluted earnings per share from continuing operations was USD 0.21 compared to USD 0.52 a year ago.
For the nine months, sales was USD 1,274.08 million compared to USD 2,149.29 million a year ago. Net income was USD 93.78 million compared to USD 434.12 million a year ago. Basic earnings per share from continuing operations was USD 0.5 compared to USD 2.32 a year ago. Diluted earnings per share from continuing operations was USD 0.49 compared to USD 2.3 a year ago.
Ferroglobe PLC is a producer of silicon metal and silicon-based alloys, variety of industrial and consumer products. The Company operates through four segments: United States of America, Canada, France, and Spain. It is involved in quartz mining activities in Spain, the United States, Canada; and South Africa, low-ash metallurgical coal mining activities in the United States, and interests in hydroelectric power in France. It sells its products to a diverse base of customers in a varied range of industries, such as aluminum, silicone compounds used in the chemical industry, ductile iron, automotive parts, renewable energy, photovoltaic (solar) cells, electronic semiconductors, and steel. Its solutions include silicon metal, manganese alloys, ferrosilicon, foundry products, calcium silicon, silica fume, electrodes, pulverized products, silicon for advanced technologies, and other. The Company's subsidiaries include Ferroglobe Finance Company PLC, and Ferroglobe Holding Company Ltd.