Ferroglobe's sales fell 2% to $370 million, and adjusted EBITDA shifted to a $2 million loss as energy costs and import pricing hurt results. Planned annual savings of about $100 million and rising silicon metal prices may help later, but current losses lead the story.
Energy costs and import pricing are still hurting Ferroglobe's core business. The planned savings could help, but they are not yet achieved. Cash flow was positive, supported by a working-capital release, and trade measures have lifted silicon metal prices.
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