- HQ: London, United Kingdom
- Sector: Basic Materials
- Industry: Industrial Metals & Minerals
- Full Time Employees: 3,775
MIAMI (AP) _ Globe Specialty Metals Inc. (GSM) on Monday reported first-quarter net income of $36.7 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Miami-based company said it had profit of 21 cents. Earnings, adjusted for stock option gains and pretax gains, were 19 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The producer of silicon metal and silicon-based alloys posted revenue of $560.7 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $559.1 million.
The Company has decided to reinstate a dividend payment
- The Board of Ferroglobe has decided to declare an interim dividend of $0.06 per share, reflecting the confidence in the underlying strength of the business and the Company's long-term outlook. The dividend will have a record date of June 8, 2018 and a payment date of June 29, 2018.