Steel Products Prices North America
GrafTech Announces Solid Second Quarter
Written by Becca Moczygemba
August 9, 2022
GrafTech International published strong second quarter earnings despite economic uncertainty.
The Brooklyn Heights, Ohio-based graphite electrode producer reported Q2 net sales of $364 million, a 10% increase from $331 million in Q2 of 2021. Net income rose significantly from $28 million in Q2 2021 to $115 million this year.
According to GrafTech’s report, the net sales increase was a result of “improved pricing on volume derived from short-term agreements and spot sales (non-LTA). This was partially offset by a shift in the mix of our business to non-LTA volume from volume derived from our take-or-pay agreements that had initial terms of three-to-five years(LTA). “
Despite the currently volatile environment of the steel industry, GrafTech’s outlook remains optimistic. Though it recognizes the near future presents many challenges, the company is committed to strengthening commercial capabilities, carefully managing operating expenses and reducing long-term debt.
GrafTech International Ltd. is a manufacturer of graphite electrode products that are utilized in electric arc furnaces for the production of steel, ferrous, and non-ferrous metals. The company manufactures products in Europe and the Americas, and supplies customers in over 50 countries.
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By Becca Moczygemba, Becca@SteelMarketUpdate.com
Becca Moczygemba
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