Ferroglobe Reports Q3 2026 Revenue Decline and Negative EBITDA Amid Restructuring
Ferroglobe (GSM) reported a challenging third quarter for 2026, with revenue falling to $370 million, a 2% sequential decline driven by lower shipment volumes. The company swung to a negative adjusted EBITDA of $2 million, down from a positive $30 million in the previous quarter, largely due to $18.5 million in extraordinary energy costs and the absence of prior litigation benefits. To combat these headwinds, management is executing an aggressive cost-reduction program aimed at enhancing annual EBITDA by approximately $100 million. This restructuring includes closing five global plants—including facilities in South Africa—and reducing the workforce by 20%. The company aims to increase capacity utilization from under 60% to 80% through these consolidations.
Tickers: $GSM
Topics: Cost reduction program EBITDA loss Plant closures Revenue decline Workforce reductions