Graftech reports q1 earnings per share $0.45

Graftech reports first quarter 2020 results.q1 earnings per share $0.45.q1 sales $319 million versus $475 million.impact of virus has induced over 20 of our long-term contract customers to submit force majeure notices.graftech - other long-term contract customers impacted by plant closures, lower steel demand, and are struggling to take committed electrode volumes.now estimate that our long-term contract volume in 2020 will be in range of 100,000 - 115,000 mt.expect that some of this decrease in 2020 long-term contract volume will be recovered in future years.have reduced operating level of our graphite electrode plants due to covid-19 impact.eliminated all discretionary spending and reduced our full-time workforce and adjusted production to our expected sales.headcount at electrode plants is being reduced by 15%.graftech - reducing fixed costs at electrode plants by 15%, and variable costs will be lower in 2020 as a result of lower utilization rates.reducing our planned capital expenditures for full year by approximately one-half to a level of $30-$35 million.over 99% of our workforce has remained healthy through this crisis.
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