GrafTech reported second-quarter 2026 results with net sales of $127.4 million and a net loss of $40.5 million (diluted loss per share $1.54). Adjusted EBITDA for the quarter was $1.9 million and adjusted free cash flow was negative $75.5 million. The company reported sales volume growth and reaffirmed full-year volume and cost expectations while executing pricing and commercial initiatives to improve profitability.

Financial Highlights

  • Revenue: Net sales of $127,362 thousand for Q2 2026 (down 3% year-over-year from $131,840 thousand).
  • Gross (loss) profit: Gross loss of $422 thousand for Q2 2026 (versus gross profit of $62 thousand in Q2 2025).
  • Operating income: Operating loss of $14,577 thousand for Q2 2026.
  • Net income: Net loss of $40,471 thousand, or diluted loss per share of $1.54 for Q2 2026.
  • Non-GAAP metrics: Adjusted EBITDA of $1,898 thousand and adjusted free cash flow of $(75,476) thousand for Q2 2026.

Business Highlights

  • Sales volume: Second-quarter sales volume of 30.8 thousand metric tons, up 8% year-over-year and 10% sequentially.
  • Production and utilization: Production volume of 33.4 thousand MT in Q2 2026, with capacity utilization at 74% (capacity 45.0 thousand MT).
  • Pricing and commercial actions: Company implemented price increases on uncommitted volume ($600–$1,200/MT range announced earlier) and reports weighted-average realized price of approximately $3,900/MT for Q2 2026.
  • Order book and market commitment: More than 90% of anticipated 2026 volume already committed; company expects full-year sales volume to increase 5–10% and to continue prioritizing higher-value regions.
  • Capital structure and liquidity: Drew remaining $100 million under delayed draw term loan in June 2026; total liquidity of $253 million (cash $145.4 million and $108 million revolver availability) and gross debt of $1,225 million as of June 30, 2026.

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.