The following is a summary of the GrafTech International Ltd. (EAF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• GrafTech reported a net loss of $31 million or $0.12 per share in Q1 2024, with a break-even adjusted EBITDA.

• Their liquidity position at the end of Q1 was $275 million, inclusive of $165 million in cash and $110 million available under a revolving credit facility.

• The company expects a mid-teen percentage decline in their cash cost per metric ton for 2024 compared to 2023.

• Anticipation of full-year 2024 capital expenditure is projected to be in the range of $35 million to $40 million.

• GrafTech won a legal dispute, expecting to be reimbursed about $9 million for legal fees and expenses.

Business Progress:

• GrafTech is expanding its product offerings, incorporating 800 millimeter supersized electrodes into their portfolio with trial runs expected in Q3 2024.

• They have widened their architect system and have made significant reductions in their overhead structure.

• Production activities at St. Marys plant are scheduled to wrap up by the end of Q2 2024.

• GrafTech sees potential long-term opportunities in the EV battery market supply chain.

• Their needle coke plant in Seadrift is operating to meet internal demand for their graphite electrode plants.

• The company continues to expect a decline in fixed cost and a modest improvement in sales and production volume for 2024.

• Given the competitive state of the US market, they anticipate maintaining their current market share.

• They foresee receiving approval for EV battery anode production at Seadrift in Q3 and plan for related construction to last around 18 months.

More details: GrafTech IR

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