[ACCESSWIRE]
Upcoming AWS Coverage on Fairmount Santrol Post-Earnings Results
LONDON, UK / ACCESSWIRE / March 29, 2017 / Active Wall St. announces its post-earnings coverage on Ferroglobe PLC (NASDAQ: GSM). The Company posted its financial results for the fourth quarter fiscal 2016 (Q4 FY16) and full year fiscal 2016 (FY16) on March 16, 2017. The London, UK-based Company's quarterly sales rose sequentially. Register with us now for your free membership at:
http://www.activewallst.com/register/
One of Ferroglobe's competitors within the Industrial Metals & Minerals space, Fairmount Santrol Holdings Inc. (NYSE: FMSA), reported on March 09, 2017, results for the fourth quarter and full year ended December 31, 2016. AWS will be initiating a research report on Fairmount Santrol in the coming days.
Today, AWS is promoting its earnings coverage on GSM; touching on FMSA. Get our free coverage by signing up to:
http://www.activewallst.com/register/
Earnings Reviewed
During the quarter ended on December 31, 2016, Ferroglobe's sales increased to $394.37 million from $364.73 million recorded at the end of Q3 FY16. However, sales numbers for Q4 FY16 marginally missed market consensus estimates of $394.8 million.
The producer of silicon metal and silicon-based alloys reported loss attributable to the parent of $40.09 million, or $0.23 loss per diluted ordinary share, in Q4 FY16 compared to loss attributable to the parent of $28.52 million, or $0.17 loss per diluted ordinary share, in Q3 FY16. The Company reported adjusted loss attributable to the parent of $16.89 million, or $0.09 loss per diluted ordinary share, during Q4 FY16 versus adjusted loss attributable to the parent of $14.60 million, or $0.09 loss per diluted ordinary share, in the previous quarter. Meanwhile, Wall Street had expected the Company to report adjusted loss of $0.17 per ordinary share.
In FY16, Ferroglobe's sales came in at $1.58 billion compared to $2.04 billion in the previous year. The Company reported loss attributable to the parent of $136.55 million, or $0.79 loss per diluted ordinary share, in FY16 versus loss attributable to the parent of $96.60 million in FY15. Furthermore, the Company reported adjusted loss attributable to the parent during FY16 of $40.64 million, or $0.24 per ordinary share.
Operational Metrics
For the reported quarter, the Company's cost of sales was at $278.76 million, up from $236.63 million in the prior quarter. The Company reported operating loss of $55.45 million during Q4 FY16 compared to operating loss of $33.66 million in Q3 FY16. The Company posted negative EBITDA during Q4 FY16 of $23.25 million compared to a negative EBITDA of $3.22 million in Q3 FY16. Furthermore, the Company's adjusted EBITDA for the reported quarter stood at $9.09 million, or 2.3% of sales, versus $12.80 million, or 3.5% of sales, in Q3 FY16.
Ferroglobe shipped 83,950 metric tons of Silicon Metal in Q4 FY16, up 3.53% from 81,091 metric tons shipment of Silicon Metal in Q3 FY16. Silicon Alloys shipment increased 13.17% q-o-q to 78,698 metric tons in Q4 FY16 from 69,539 metric tons in Q3 FY16. During the reported quarter, Manganese Alloys shipment surged 31.26% sequentially to 77,927 metric tons from 59,368 metric tons in Q3 FY16. Additionally, total shipments during Q4 FY16 were 240,575 metric tons compared to 209,998 metric tons in Q3 FY16.
Cash Flow & Balance Sheet
During Q4 FY16, Ferroglobe's net cash provided by operating activities were $38.08 million, up from $22.48 million in Q3 FY16. Free cash flow during Q4 FY16 stood at $20.3 million compared to $11.7 million in Q3 FY16. At the close of books in the reported quarter, Ferroglobe had $196.98 million in cash, compared to $119.17 million at the close of books on September 30, 2016. Furthermore, the Company's net debt at the end of Q4 FY16 was $404.6 million compared to $430.0 million at the end of Q3 FY16.
Stock Performance
At the closing bell, on Tuesday, March 28, 2017, Ferroglobe's stock rose 2.98% from its previous closing price of $9.73, ending the trading session at $10.02. A total volume of 433.00 thousand shares were traded at the end of the day. In the last six months and previous twelve months, shares of the Company have surged 14.54% and 16.03%, respectively. The stock has a dividend yield of 3.19% and currently has a market cap of $1.74 billion.
Active Wall Street:
Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
AWS has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst, for further information on analyst credentials, please email [email protected]. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: [email protected]
Phone number: 1-858-257-3144
Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active Wall Street
