Ferroglobe reports solid first quarter 2024 financial results

Posted adjusted ebitda of $25.8 million for the first quarter of 2024 net cash positive for the first time in the company's history; all-time low gross debt of $81 million initiated a quarterly cash dividend of $0.013 per share, paid on march 28, 2024; announcing a second quarter dividend of $0.013 per share, payable on june 27 board approved stock buyback program; shareholder vote to approve buyback scheduled for june 2024 agm successfully restarted french operations on april 1, 2024, with all furnaces running applying for permit to expand silicon metal production in the u.s. to address strong secular trends in solar and ev batteries signed a memorandum of understanding with coreshell, followed by an investment post-quarter after strong test results in our lab london, may 14, 2024 (globe newswire) -- ferroglobe plc (nasdaq: gsm) (“ferroglobe”, the “company”, or the “parent”), a leading producer globally of silicon metal, silicon-based and manganese-based specialty alloys, today announced financial results for the first quarter 2024. financial highlights              %       % ($ in millions, except eps) q1 2024   q4 2023   q/q   q1 2023   y/y                             sales $ 391.9     $ 376.0     4%   $ 400.9     (2%) net (loss) income $ (2.0 )   $ (11.1 )   82%   $ 21.0     (110%) adjusted diluted eps $ —     $ 0.07     82%   $ 0.05     (110%) adj.
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