Q1 2026 GrafTech International Ltd Earnings Call Transcript
Key Points
- GrafTech International Ltd (EAF) announced a price increase for graphite electrodes by $600 to $1,200 per metric ton, which is expected to positively impact pricing momentum.
- The company has secured more than 85% of its anticipated 2026 volume in its order book, providing good visibility and stability.
- GrafTech is well-positioned to capitalize on the recovery in the graphite electrode industry, with a strong focus on disciplined commercial execution and cost structure improvement.
- The company benefits from vertical integration with Seadrift, ensuring a secure supply of needle coke, a critical raw material.
- GrafTech is actively engaged in advocating for fair trade practices, with supportive trade rulings expected to enhance market conditions in the US and other regions.
- GrafTech reported a net loss of $43 million for the first quarter, primarily due to a decline in average pricing.
- The average selling price for the first quarter was approximately $3,900 per metric ton, representing a 5% decline compared to the prior year.
- Cash costs per metric ton were $3,848, which, while improved sequentially, remain above the level reported in the first quarter of 2025.
- The company faces geopolitical uncertainties and energy market volatility, which could impact input costs and supply chain security.
- GrafTech's liquidity position is limited, with borrowing availability under its revolving credit facility constrained by recent financial performance.
Thank you for standing by. My name is JL and I will be your conference operator today. At this time, I would like to welcome everyone to the GrafTech's first-quarter 2026 earnings conference call and webcast. (Operator Instructions) I would now like to turn the conference over to Mike Dillon, Vice President, Investor Relations and Treasurer. You may begin.
Good morning and welcome to GrafTech International's first-quarter 2026 earnings call. Thank you for joining us. Joining me on the call are Timothy Flanagan, Chief Executive Officer; and Rory O'Donnell, Chief Financial Officer. Tim will begin with opening comments on our first-quarter performance and key strategic initiatives. Rory will then provide more details on our quarterly results and other financial matters. After brief closing comments by Timothy, we will then open the call to questions.
Turning to our next slide. As a reminder, our comments today may include forward-looking statements regarding,
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