Ferroglobe Plc Os Up 7.62% To $4.80 After Earnings Beat

Ferroglobe PLC (GSM) surpassed earnings projections on 11/7/2023 for Q3 2023.

Ferroglobe Plc Os's earnings came in at an EPS of $0.27 per share, 50.00% higher than estimates for an EPS of $0.18 per share. The firm's earnings are down 58% since reporting $0.64 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $416.8 million. That represents a 29.74% decrease in revenues from the year-ago report and is 6.78% higher than consensus estimates set at $390.4 million.

The stock is up 7.62% to $4.80 after the report.

Ferroglobe Plc Os's profit margins took a hit as earnings fell at a faster pace than revenues.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Ferroglobe Plc Os a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 37. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Ferroglobe PLC provides silicon and specialty metals. It produces silicon metal and silicon and manganese-based alloy, serving customers in the specialty chemical, aluminum, solar, steel and ductile iron foundry industries. The company's business segments include North America - Silicon; Europe - Manganese; Europe - Silicon; South Africa - Silicon and Other segments The primary raw materials company uses to produce its electrometallurgy products includes its coal and quartz mining operations and its silicon metal and ferroalloy production.