GrafTech Posts $1.54 Q2 Loss Per Share, Extending Deep Losses
EAF sits 49% above its 52-week low of $4.92.
Summary
GrafTech reported a Q2 loss of $1.54 per share, following a $1.66 loss in Q1. The company continues to burn through cash amid competitive pricing pressures and a material $3 million inventory write-down flagged in the prior 10-Q. With a market cap near $185 million and a $50 million ATM equity program already in place, further dilution is likely. The shelf registration for up to $150 million remains open, giving management room to raise additional capital. The stock closed at $7.35 before the release; the magnitude of the loss may pressure shares further. GrafTech International filed an 8-K regarding its operations and financial condition.
At the time of this announcement, EAF was trading at $7.35 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $184.9M. The 52-week trading range was $4.92 to $20.32. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.