Ferroglobe Reports Third Quarter 2026 Financial Results and Announces Actions to Improve Profitability
Key Highlights
- ➤Sales $369.8 million, up 18.6% year over year
- ➤Adjusted EBITDA negative $2.4 million, hit by nearly $19 million in energy costs
- ➤Plans to close five plants and cut overhead 20%
- ➤Targets $85 million-$115 million full-run-rate adjusted EBITDA improvement
- ➤Free cash flow $5.6 million; net debt increased to $42.1 million
Expert Statements
Marco Levi, Chief Executive Officer of Ferroglobe
“Third quarter results reflect a challenging operating environment driven by external factors, primarily higher energy costs resulting from the Middle East conflict, and excess ferrosilicon imports into Europe. We are focused on managing what we can control, and today we are announcing decisive actions to improve our cost structure.”
Marco Levi, Chief Executive Officer of Ferroglobe
“We are rationalizing our footprint, planning to close five plants* and shifting production to our most competitive facilities with the goal of improving our capacity utilization to approximately 80%. As a result of this action, together with a 20% overhead reduction, we expect to enhance our adjusted EBITDA by $85 to $115 million at full run rate, with minimal changes to our annual volumes. Simultaneously, we continue to pursue trade measures to protect our markets from predatory imports, while continuing to make great strides in advancing our critical materials strategy”
Beatriz García-Cos, Chief Financial Officer of Ferroglobe
“Despite the negative third quarter adjusted EBITDA of $2.4 million, we generated $5.6 million of free cash flow with net debt slightly increasing to $42.1 million. We maintain our financial discipline while we continue to rein in costs within our control. From a cash flow perspective, we expect to further reduce working capital needs in the coming quarters as we consolidate our production footprint.”
Marco Levi, Chief Executive Officer of Ferroglobe
“On behalf of the Board and the management team, I want to thank Thomas for his significant contributions to Ferroglobe over the past six years and wish him every success in the future.”
Third Quarter Highlights * Total sales were $369.8 million, up 18.6% year over year and down 2.3% sequentially * Adjusted EBITDA was negative $2.4 million due to substantially higher energy prices, impacting adjusted EBITDA by nearly $19 million * Generated positive operating cash flow of $25.9 million and free cash flow of $5.6 million, supported by a $34.8 million sequential reduction in working capital * Taking decisive actions to improve profitability by increasing capacity utilization and reducing overhead costs, targeting an adjusted EBITDA improvement of $100 million +/- 15% at full run rate * Continued progress on new strategic critical materials initiatives, with initial customer shipments during the third quarter * Paid quarterly dividend of $0.015 per share on September 29; Next dividend of $0.015 payable on December 30 LONDON, Nov. 03, 2026 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ: GSM) (“Ferroglobe”, the “Company”, or the “Parent”), a leading global producer of silicon metal, silicon-based and manganese-based specialty alloys, today announced financial results for the third quarter of 2026.
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