Last $17.36 USD
Change Today +0.07 / 0.40%
Volume 821.4K
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globe specialty metals inc (GSM) Key Developments

Globe Specialty Metals, Inc., Grupo FerroAtlántica, S.A. - M&A Call

Globe Specialty Metals, Inc., Grupo FerroAtlántica, S.A. - M&A Call

Globe Specialty Seeks Acquisitions After Merger

Grupo FerroAtlántica, S.A. and Globe Specialty Metals, Inc. (NasdaqGS:GSM) today announced they have entered into a definitive agreement under which the two companies will combine in an all-stock transaction. "Globe's combination with FerroAtlántica creates a premier global player in the fast-growing silicon metal industry and combines two best-in-class companies," said Alan Kestenbaum, Globe's Executive Chairman. "This deal gives Globe shareholders a company with greater international reach, a broader production base and opportunities for further cost reductions on an already low-cost platform. It will also provide exposure to new markets, positioning the new company to take advantage of both accelerated organic growth and growth through acquisition. The addition of FerroAtlántica's energy assets deepens our vertical integration strategy, lowering unit costs through integration with this key production input cost. Finally, Globe will preserve its intense focus on financial discipline and keeping its balance sheet flexible to be an opportunistic consolidator, positioning the combined company for further growth opportunities."

Globe Specialty Metals, Inc. Provides Capital Expenditure Guidance for the Year 2015

Globe Specialty Metals, Inc. provided capital expenditure guidance for the year 2015. For the year, the company expects capital expenditure of $45 million.

Globe Specialty Metals, Inc. Announces Unaudited Consolidated Earnings and Operating Results for the Second Quarter and Six Months Ended December 31, 2014

Globe Specialty Metals, Inc. announced unaudited consolidated earnings and operating results for the second quarter and six months ended December 31, 2014. For the quarter, the company reported net sales of $198.016 million against $178.406 million a year ago. Operating income was $17.247 million against operating loss of $7.375 million a year ago. Income before provision for income taxes was $16.303 million against $20.386 million a year ago. Net profit attributable to the company was $9.973 million against $20.768 million a year ago. Diluted earnings per share were $0.13 against $0.28 a year ago. EBITDA was $37.393 million against $26.234 million a year ago. Adjusted EBITDA of $37.4 million in the second quarter was up 43% from the second quarter of last year and up 8% compared to the prior quarter, while adjusted diluted earnings per share attributable to GSM for the second quarter were $0.21, up 62% from the second quarter of last year and up 11% compared to the prior quarter. Net cash provided by operating activities was $17.879 million against $23.267 million a year ago. Capital expenditures were $13.798 million against $16.836 million a year ago. For the six months, the company reported net sales of $404.099 million against $351.4 million a year ago. Operating income was $39.148 million against operating loss of $11.799 million a year ago. Income before provision for income taxes was $36.712 million against $10.852 million a year ago. Net profit attributable to the company was $21.675 million against $13.916 million a year ago. Basic and diluted earnings per share were $0.29 against $0.18 a year ago. EBITDA was $63.333 million against $39.464 million a year ago. Net cash provided by operating activities was $42.768 million against $61.961 million a year ago. Capital expenditures were $30.634 million against $18.064 million a year ago. Adjusted EBITDA was $72.002 million against $47.636 million a year ago. For the quarter, the company reported total shipments were 70,886 metric tons against 66,616 metric tons a year ago. For the six months, the company reported total shipments were 144,202 metric tons against 128,651 metric tons a year ago.

Globe Specialty Metals, Inc., Q2 2015 Earnings Call, Feb 10, 2015

Globe Specialty Metals, Inc., Q2 2015 Earnings Call, Feb 10, 2015

 

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GSM

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Valuation GSM Industry Range
Price/Earnings 89.8x
Price/Sales 1.7x
Price/Book 3.0x
Price/Cash Flow 88.5x
TEV/Sales 1.3x
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