Ferroglobe reports Q3 loss as energy costs hit margins

Ferroglobe PLC reported a Q3 loss of $2.4 million in adjusted EBITDA, down from $13.1 million in the previous quarter, as higher energy costs took a significant toll on the company's margins. Despite this, the London-based producer managed to generate positive operating cash flow of $25.9 million and free cash flow of $5.6 million, with a 20% overhead reduction and plans to close five plants expected to improve adjusted EBITDA by $85 million to $115 million at full capacity.

Silicon metal revenue declined 3.7% sequentially, while silicon-based alloys revenue fell 6.6%, but manganese-based alloys revenue grew 5.9%.

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