EAF - GrafTech International: A Tough Yet Speculative Play

2024-04-30 11:08:50 ET

Summary

• GrafTech International Ltd., a producer of graphite electrodes, has seen a real boom-bust cycle in recent years.
• With the market turning, the GrafTech International business has been impacted by increasing losses, falling EBITDA, and uncertainty in its outlook.
• The company's low share price, multi-year debt maturity and improved news flow may present an opportunity for a highly speculative position.

The investment case around GrafTech International Ltd. ( EAF ) remains uncertain, with the business being impacted by increasing losses, falling EBITDA and continued uncertainty on the outlook. While the company continues to post losses, some sequential green shoots appear to be arriving....

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