Stock Track | Ferroglobe Plunges After Q3 Earnings Miss Estimates

Stock Track11-07

Ferroglobe PLC (GSM), a leading producer of silicon metal and silicon-based alloys, experienced a sharp after-hours decline of 6.84% on Wednesday following the release of its third-quarter 2024 financial results.

The company reported earnings of $18.8 million, or an adjusted earnings per share (EPS) of $0.11, for the third quarter. These figures missed analysts' consensus estimates, which had projected an EPS of $0.16. Additionally, Ferroglobe's revenue for the quarter came in at $433.533 million, falling short of the expected $443.4 million.

While the company's earnings release provided an overview of its financial performance, it did not offer specific details or explanations for the weaker-than-expected results. Analysts and investors will likely seek further clarity from Ferroglobe's management regarding the factors contributing to the earnings and revenue misses.

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