FERROGLOBE PLC Reports Q2 Fiscal Year 2023 Earnings Results on August 14
August 17, 2023
🌥️Earnings Overview
Ferroglobe ($NASDAQ:GSM) PLC reported their 2023 second quarter fiscal year earnings results on August 14, for the period ending June 30. Total revenue was USD 456.4 million, a decrease of 45.7% from the same quarter of the previous year. Net income was USD 31.9 million, a decrease of 82.8% year-on-year.
Stock Price
At the start of the trading day, FERROGLOBE PLC stock opened at $4.8 and stayed at that price throughout the day, closing at $4.8 at the end of the day. Despite the positive report, investors were not overly bullish and the stock price did not move significantly. Overall, FERROGLOBE PLC reported strong revenue growth year over year.
These figures reflect FERROGLOBE PLC’s strong financial health and provide plenty of liquidity to continue to invest in strategic initiatives. Overall, FERROGLOBE PLC reported positive financial results for Q2 FY 2023, but investors showed a lack of confidence in the stock with no major movement in share price. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ferroglobe Plc. More…
| Total Revenues | Net Income | Net Margin |
| 1.9k | 156.73 | 10.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ferroglobe Plc. More…
| Operations | Investing | Financing |
| 332.65 | -68.86 | -205.45 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ferroglobe Plc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.85k | 1.03k | 3.47 |
Key Ratios Snapshot
Some of the financial key ratios for Ferroglobe Plc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.9% | -39.1% | 14.9% |
| FCF Margin | ROE | ROA |
| 13.7% | 27.2% | 9.5% |
Analysis
At GoodWhale, we conducted an analysis of FERROGLOBE PLC‘s wellbeing and based on our Risk Rating assessment, FERROGLOBE PLC is a medium risk investment in terms of financial and business aspects. We have detected two risk warnings in the income sheet and balance sheet. If you would like to find out more information about FERROGLOBE PLC, then you will need to become a registered user of GoodWhale. Once registered, you can explore the data obtained through our analysis and determine if FERROGLOBE PLC is a safe investment for you. More…
Peers
Ferroglobe PLC is one of the leading players in the ferroalloys industry, facing stiff competition from established players such as Eramet SA, Hangzhou Yitong New Material Co Ltd, and Sichuan Hongda Co Ltd. All these companies are vying for market share and dominance in the ferroalloys space, with the goal of becoming the top supplier of these essential metals and alloys. As such, Ferroglobe PLC must stay ahead of its competitors in terms of technological innovation, product quality, and customer service in order to remain competitive.
– Eramet SA ($LTS:0MGV)
Eramet SA is a French mining and metallurgical company with interests in the extraction, production and processing of manganese and nickel ore. The company has a market capitalization of 2.69 billion Euros as of 2023 and a Return on Equity of 80.99%. This reflects the strong financial performance of the company and its ability to generate profits from its operations. The company has operations in France, Finland, Norway and Australia, with its main focus being the production of high-quality manganese and nickel alloys, which are used in various industries including automotive and aerospace. The company also produces a range of products for the electrical and electronics industry.
– Hangzhou Yitong New Material Co Ltd ($SZSE:300930)
Hangzhou Yitong New Material Co Ltd is a Chinese industrial enterprise that specializes in the production of polymer materials. The company has a market capitalization of 3.16 billion as of 2023, which indicates its size and strength in the industry. Furthermore, its return on equity (ROE) stands at 7.96%, demonstrating its ability to generate profits from its shareholders’ investments. This company is well-positioned to remain competitive in the industry and to generate returns for its shareholders.
– Sichuan Hongda Co Ltd ($SHSE:600331)
S i c h u a n H o n g d a C o L t d i s a C h i n e s e c h e m i c a l c o m p a n y f o c u s e d o n t h e p r o d u c t i o n a n d s a l e o f c h e m i c a l p r o d u c t s , i n c l u d i n g a m m o n i u m s u l f a t e , c a l c i u m c h l o r i d e , a n d m a g n e s i u m h y d r o x i d e . T h e c o m p a n y h a s a m a r k e t c a p o f 7 . 0 1 B a s o f 2 0 2 3 , w h i c h i n d i c a t e s t h a t t h e c o m p a n y i s a m i d – s i z e d b u s i n e s s i n t e r m s o f m a r k e t c a p i t a l i z a t i o n . A d d i t i o n a l l y , t h e c o m p a n y h a s a n i m p r e s s i v e R e t u r n o n E q u i t y o f 2 4 . 7 7 % , w h i c h i n d i c a t e s t h a t t h e c o m p a n y h a s b e e n a b l e t o g e n e r a t e s t r o n g r e t u r n s f r o m i t s i n v e s t m e n t s . T h i s s u g g e s t s t h a t S i c h u a n H o n g d a C o L t d i s a s u c c e s s f u l a n d w e l l – m a n a g e d b u s i n e s s
Summary
FERROGLOBE PLC reported their earnings results for the second quarter of 2023, with total revenue of USD 456.4 million and net income of USD 31.9 million. Compared to the same quarter of the previous year, this represents a decrease in revenue of 45.7% and a decrease in net income of 82.8%. From an investor perspective, this is a discouraging result and may suggest concerns over the company’s future prospects. Investors should monitor FERROGLOBE PLC’s future performance closely to evaluate the company’s long-term viability and potential for growth.
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