<p>Ferroglobe PLC（股票代码：GSM）召开了第三季度财报电话会议。以下是会议的主要亮点。</p>
<h3>认识您的 ETF 人工智能分析师</h3>
<ul>
<li>了解 TipRanks 的_ETF_人工智能分析师如何帮助您做出更明智的投资决策</li>
<li>探索 TipRanks 用户喜爱的 ETF，并查看 <strong>_ETF_人工智能分析师</strong> 对您关注的 ETF 所揭示的见解。</li>
</ul>
<p>Ferroglobe PLC 通过战略措施应对挑战性市场</p>
<p>Ferroglobe PLC 最近的财报电话会议描绘了一个充满挑战的市场环境，各个细分市场的销量和收入显著下降。这一下降主要归因于激烈的进口和需求疲软。然而，得益于战略贸易措施和有前景的合作伙伴关系（如与 Coreshell 的合作），公司对未来持乐观态度，预计到 2026 年将产生积极成果。Ferroglobe 还专注于提高运营效率和现金流，希望在未来一年能有更好的市场条件。</p>
<h2>美国贸易案件进展</h2>
<p>Ferroglobe 在解决不公平贸易行为方面取得了进展，美国商务部对包括澳大利亚、老挝、挪威和泰国在内的多个国家发布了初步反补贴税，以应对其对硅金属生产的补贴。此外，对安哥拉和老挝也实施了初步反倾销税。这些措施预计将有助于 Ferroglobe 在美国市场上实现公平竞争。</p>
<h2>Coreshell 合作伙伴关系及成就</h2>
<p>与 Coreshell 的合作是 Ferroglobe 的一大亮点。Coreshell 已开始向领先的汽车 OEM 公司运输商业规模的 60 安培电动汽车试点电池，预计将在 2026 年初实现全面商业化。这项技术减少了对石墨的依赖，支持电动汽车电池的国内供应链。Coreshell 的成功还通过赢得初创企业世界杯得到了进一步证明。</p>
<h2>法国新的多年能源协议</h2>
<p>Ferroglobe 在法国获得了一项新的多年能源协议，计划于 2026 年 1 月 1 日生效。该协议承诺提供具有竞争力的能源价格和运营灵活性，这对维持该地区的成本效率和运营稳定至关重要。</p>
<h2>调整后的 EBITDA 表现</h2>
<p>尽管收入下降了 19%，Ferroglobe 仍然成功产生了 8000 万美元的调整后 EBITDA，略低于上一季度。这一表现突显了公司在挑战性市场条件下的韧性和维持盈利能力的能力。</p>
<h2>销量和收入下降</h2>
<p>公司整体销量较去年同期下降了 21%，收入下降了 19%。这一下滑反映了更广泛的市场挑战，包括激烈的进口和需求减少。</p>
<h2>硅金属市场的挑战</h2>
<p>Ferroglobe 在硅金属市场面临重大挑战，来自中国的掠夺性进口在欧洲的前八个月内翻了一番。因此，欧盟的出货量较上一季度下降了 51%。</p>
<h2>硅基合金销量下降</h2>
<p>硅基合金的销量下降了 19%，同时价格环境恶化。美国和欧洲的指数分别下降了 5% 和 6%，进一步影响了公司的表现。</p>
<h2>锰基合金收入和 EBITDA 下降</h2>
<p>锰基合金部门也面临逆风，收入下降了 21%，调整后的 EBITDA 较上一季度下降了 74%。这突显了合金市场的更广泛挑战。</p>
<h2>前瞻性指导</h2>
<p>展望未来，尽管当前市场下滑，Ferroglobe 仍然保持谨慎乐观。公司预计美国的反补贴税和即将出台的欧盟保障措施等监管发展将改善市场动态，预计到 2026 年将有所改善。与 Coreshell 的合作预计将随着商业规模试点电池的运输而推进，目标是在 2026 年初实现全面商业化。此外，法国的新能源协议预计将从 2026 年起提升运营效率。Ferroglobe 保持强劲的资产负债表，调整后的总债务为 1.27 亿美元，净债务略为 500 万美元。</p>
<p>总之，Ferroglobe PLC 的财报电话会议突显了公司在应对挑战性市场环境中的韧性。尽管面临显著的销量和收入下降，战略措施和合作伙伴关系为未来提供了积极的前景。公司有望受益于监管发展和运营改善，并对未来几年市场条件的改善持乐观态度。</p>

<p>Ferroglobe PLC 的第三季度财报电话会议揭示了市场面临的挑战，销量下降 21%，收入下降 19%，原因是激进的进口和需求疲软。然而，公司对未来的改善持乐观态度，计划通过战略贸易措施、与 Coreshell 的合作以及在法国的新能源协议来实现。尽管收入下降 19%，Ferroglobe 仍然产生了 8000 万美元的调整后息税折旧摊销前利润（EBITDA），展现了韧性。公司预计到 2026 年，监管发展将改善市场条件，并保持强劲的资产负债表，调整后的总债务为 1.27 亿美元</p>

<p>Ferroglobe PLC ((GSM)) has held its Q3 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>Ferroglobe PLC（股票代码：GSM）召开了第三季度财报电话会议。以下是会议的主要亮点。</p>
</div><h3>Meet Your ETF AI Analyst</h3>
<div class="lb-trans"><h3>认识您的 ETF 人工智能分析师</h3>
</div><ul>
<li>Discover how TipRanks' <em>ETF</em> AI Analyst can help you make smarter investment decisions</li>
<li>Explore ETFs TipRanks' users love and see what insights the <strong><em>ETF</em> AI Analyst</strong> reveals about the ones you follow.</li>
</ul>
<div class="lb-trans"><ul>
<li>了解 TipRanks 的_ETF_人工智能分析师如何帮助您做出更明智的投资决策</li>
<li>探索 TipRanks 用户喜爱的 ETF，并查看 <strong>_ETF_人工智能分析师</strong> 对您关注的 ETF 所揭示的见解。</li>
</ul>
</div><p>Ferroglobe PLC Navigates Challenging Market with Strategic Measures</p>
<div class="lb-trans"><p>Ferroglobe PLC 通过战略措施应对挑战性市场</p>
</div><p>The recent earnings call for Ferroglobe PLC painted a picture of a challenging market environment, marked by significant declines in volume and revenue across various segments. This downturn is largely attributed to aggressive imports and soft demand. However, the company is optimistic about the future, thanks to strategic trade measures and promising partnerships, such as the one with Coreshell, which are expected to yield positive results by 2026. Ferroglobe is also focusing on improving operational efficiency and cash flow, with hopes for better market conditions in the coming year.</p>
<div class="lb-trans"><p>Ferroglobe PLC 最近的财报电话会议描绘了一个充满挑战的市场环境，各个细分市场的销量和收入显著下降。这一下降主要归因于激烈的进口和需求疲软。然而，得益于战略贸易措施和有前景的合作伙伴关系（如与 Coreshell 的合作），公司对未来持乐观态度，预计到 2026 年将产生积极成果。Ferroglobe 还专注于提高运营效率和现金流，希望在未来一年能有更好的市场条件。</p>
</div><h2>U.S. Trade Case Progress</h2>
<div class="lb-trans"><h2>美国贸易案件进展</h2>
</div><p>Ferroglobe has made strides in addressing unfair trade practices, with the U.S. Department of Commerce issuing preliminary countervailing duties against several countries, including Australia, Laos, Norway, and Thailand, for subsidizing silicon metal production. Additionally, preliminary antidumping duties were imposed on Angola and Laos. These measures are expected to help level the playing field for Ferroglobe in the U.S. market.</p>
<div class="lb-trans"><p>Ferroglobe 在解决不公平贸易行为方面取得了进展，美国商务部对包括澳大利亚、老挝、挪威和泰国在内的多个国家发布了初步反补贴税，以应对其对硅金属生产的补贴。此外，对安哥拉和老挝也实施了初步反倾销税。这些措施预计将有助于 Ferroglobe 在美国市场上实现公平竞争。</p>
</div><h2>Coreshell Partnership and Achievements</h2>
<div class="lb-trans"><h2>Coreshell 合作伙伴关系及成就</h2>
</div><p>The partnership with Coreshell is a significant highlight for Ferroglobe. Coreshell has begun shipping commercial-scale 60 ampere EV pilot batteries to leading automotive OEMs, with full commercialization expected in early 2026. This technology reduces reliance on graphite, supporting a domestic supply chain for EV batteries. Coreshell’s success was further underscored by winning the start-up World Cup.</p>
<div class="lb-trans"><p>与 Coreshell 的合作是 Ferroglobe 的一大亮点。Coreshell 已开始向领先的汽车 OEM 公司运输商业规模的 60 安培电动汽车试点电池，预计将在 2026 年初实现全面商业化。这项技术减少了对石墨的依赖，支持电动汽车电池的国内供应链。Coreshell 的成功还通过赢得初创企业世界杯得到了进一步证明。</p>
</div><h2>New Multiyear Energy Agreement in France</h2>
<div class="lb-trans"><h2>法国新的多年能源协议</h2>
</div><p>Ferroglobe has secured a new multiyear energy agreement in France, set to commence on January 1, 2026. This agreement promises competitive energy pricing and operational flexibility, which are crucial for maintaining cost efficiency and operational stability in the region.</p>
<div class="lb-trans"><p>Ferroglobe 在法国获得了一项新的多年能源协议，计划于 2026 年 1 月 1 日生效。该协议承诺提供具有竞争力的能源价格和运营灵活性，这对维持该地区的成本效率和运营稳定至关重要。</p>
</div><h2>Adjusted EBITDA Performance</h2>
<div class="lb-trans"><h2>调整后的 EBITDA 表现</h2>
</div><p>Despite facing a 19% decline in revenue, Ferroglobe managed to generate $80 million in adjusted EBITDA, slightly below the previous quarter. This performance highlights the company’s resilience and ability to maintain profitability amidst challenging market conditions.</p>
<div class="lb-trans"><p>尽管收入下降了 19%，Ferroglobe 仍然成功产生了 8000 万美元的调整后 EBITDA，略低于上一季度。这一表现突显了公司在挑战性市场条件下的韧性和维持盈利能力的能力。</p>
</div><h2>Volume and Revenue Decline</h2>
<div class="lb-trans"><h2>销量和收入下降</h2>
</div><p>The company experienced a 21% decline in overall volumes from the prior year quarter, with revenues falling by 19%. This downturn reflects the broader market challenges, including aggressive imports and reduced demand.</p>
<div class="lb-trans"><p>公司整体销量较去年同期下降了 21%，收入下降了 19%。这一下滑反映了更广泛的市场挑战，包括激烈的进口和需求减少。</p>
</div><h2>Challenges in Silicon Metal Market</h2>
<div class="lb-trans"><h2>硅金属市场的挑战</h2>
</div><p>Ferroglobe is facing significant challenges in the silicon metal market, with predatory imports from China doubling in the first eight months of the year in Europe. Consequently, EU shipments have declined by 51% compared to the previous quarter.</p>
<div class="lb-trans"><p>Ferroglobe 在硅金属市场面临重大挑战，来自中国的掠夺性进口在欧洲的前八个月内翻了一番。因此，欧盟的出货量较上一季度下降了 51%。</p>
</div><h2>Silicon-Based Alloys Volume Decline</h2>
<div class="lb-trans"><h2>硅基合金销量下降</h2>
</div><p>Volumes in silicon-based alloys decreased by 19%, accompanied by a deteriorating pricing environment. The U.S. and European indexes saw declines of 5% and 6%, respectively, further impacting the company’s performance.</p>
<div class="lb-trans"><p>硅基合金的销量下降了 19%，同时价格环境恶化。美国和欧洲的指数分别下降了 5% 和 6%，进一步影响了公司的表现。</p>
</div><h2>Manganese-Based Alloys Revenue and EBITDA Decline</h2>
<div class="lb-trans"><h2>锰基合金收入和 EBITDA 下降</h2>
</div><p>The manganese-based alloys segment also faced headwinds, with revenue declining by 21% and adjusted EBITDA decreasing by 74% from the prior quarter. This highlights the broader challenges within the alloys market.</p>
<div class="lb-trans"><p>锰基合金部门也面临逆风，收入下降了 21%，调整后的 EBITDA 较上一季度下降了 74%。这突显了合金市场的更广泛挑战。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>Looking ahead, Ferroglobe remains cautiously optimistic despite the current market downturn. The company anticipates regulatory developments, such as the U.S. countervailing duties and an upcoming EU safeguard decision, to improve market dynamics by 2026. The partnership with Coreshell is expected to advance with commercial-scale pilot battery shipments, aiming for full commercialization in early 2026. Additionally, the new energy agreement in France is set to enhance operational efficiency from 2026 onwards. Ferroglobe maintains a strong balance sheet, with adjusted gross debt at $127 million and a slight net debt position of $5 million.</p>
<div class="lb-trans"><p>展望未来，尽管当前市场下滑，Ferroglobe 仍然保持谨慎乐观。公司预计美国的反补贴税和即将出台的欧盟保障措施等监管发展将改善市场动态，预计到 2026 年将有所改善。与 Coreshell 的合作预计将随着商业规模试点电池的运输而推进，目标是在 2026 年初实现全面商业化。此外，法国的新能源协议预计将从 2026 年起提升运营效率。Ferroglobe 保持强劲的资产负债表，调整后的总债务为 1.27 亿美元，净债务略为 500 万美元。</p>
</div><p>In conclusion, Ferroglobe PLC’s earnings call highlighted the company’s resilience in navigating a challenging market environment. While facing significant volume and revenue declines, strategic measures and partnerships provide a positive outlook for the future. The company is poised to benefit from regulatory developments and operational improvements, with optimism for improved market conditions in the coming years.</p>
<div class="lb-trans"><p>总之，Ferroglobe PLC 的财报电话会议突显了公司在应对挑战性市场环境中的韧性。尽管面临显著的销量和收入下降，战略措施和合作伙伴关系为未来提供了积极的前景。公司有望受益于监管发展和运营改善，并对未来几年市场条件的改善持乐观态度。</p>
</div>

Ferroglobe PLC 在市场挑战中的战略行动