Recent Updates — GSM

Ferroglobe PLC reported a second quarter net profit attributable to the parent of $60.4 million, or breakeven adjusted diluted EPS, compared to a loss in the prior year period. The return to profitability was primarily driven by a $59.9 million positive fair value adjustment related to long-term energy contracts and improved operating performance across silicon-based and manganese-based alloys. Sales increased 8.9% sequentially to $378.6 million, supported by higher shipment volumes in EMEA and the U.S., while adjusted EBITDA rose to $13.1 million from $3.3 million. The company generated $20.4 million in free cash flow and reduced net debt to $37.7 million. Ferroglobe is a leading global producer of silicon metal, silicon-based and manganese-based specialty alloys.