EL7.AI
StocksMedium•23 October 2026•
4 min read

GrafTech Revenue Reaches $140.2 Million, Beats Estimates Despite Wider Loss

Key Facts

1Net loss was $47 million, or $1.76 per share, in the third quarter of 2026.
2Net sales were $140.163 million, compared with $143.998 million a year earlier and $127.362 million in the second quarter.
3Revenue beat the consensus estimate of $127 million, but per-share loss missed analysts’ estimate of $1.37.
4Liquidity was $242 million on September 30, 2026, including $134 million in cash and $108 million available under the credit facility.
5The company expects annual sales volume growth of between 5% and 10% in 2026.

GrafTech posted a net loss of $47 million, or $1.76 per share, in the third quarter of 2026, compared with a loss of $28 million and $1.10 per share a year earlier, according to the company’s results. Net sales were $140.163 million, versus a revenue consensus estimate of $127 million, according to Investing.com. However, reported per-share loss was worse than analysts’ estimate of $1.37, so the revenue beat did not extend to the per-share result. The stock rose 2.01% in after-hours trading following the results announcement on October 23, according to Investing.com. The quarterly loss included $14 million in restructuring and exit costs related to the planned closure of the Monterrey facility.

Net sales fell from $143.998 million in the third quarter of 2025, but increased from $127.362 million in the second quarter of 2026, according to company data published through Yahoo Finance. Sales volume was flat year over year at 28.8 thousand metric tons, while the weighted average realized price fell 7% to about $3,900 per ton, according to Investing.com. These figures show that higher sales than in the previous quarter coincided with realized prices below their year-earlier level. The company said the decline in adjusted earnings was primarily tied to a lower realized price, partly offset by a lower cash cost of goods per ton. Adjusted EBITDA fell to $8.626 million from $13.013 million a year earlier, while adjusted loss per share was $1.21, compared with $1.03 in the third quarter of 2025.

Cash flow also came under pressure during the quarter, with the company using $8 million in operating activities and reporting adjusted free cash flow of negative $16 million. In the corresponding period of 2025, operating activities provided $25 million and adjusted free cash flow was $18 million, according to GrafTech’s results. The company attributed quarterly operating cash flow to higher inventory and said the level was in line with its expectations. It added that it expects to reduce working capital, including inventory, in the fourth quarter. As of September 30, 2026, total liquidity was $242 million, including $134 million in cash and $108 million available under the revolving credit facility, according to Investing.com. Liquidity had been $253 million on June 30, comprising $145.4 million in cash and $107.6 million available under the facility, according to the company’s filing with the U.S. Securities and Exchange Commission.

Some of the quarter’s costs are tied to the Monterrey facility closure plan the company announced in August. GrafTech said the closure will reduce annual graphite electrode production capacity to about 127 thousand metric tons, with customer requirements transferred to its facilities in Calais, France, and Pamplona, Spain, according to Investing.com. The company expects the closure to generate annual cash savings of between $20 million and $25 million, excluding one-time costs. The plan was part of the company’s efforts to improve commercial pricing; it announced a graphite electrode price increase on September 8, following an earlier increase announced on March 26. The $14 million in restructuring and exit costs formed part of the quarterly net loss, according to the results statement.

GrafTech expects its weighted average realized price to rise by a mid-single-digit percentage in the fourth quarter compared with the third quarter, and reaffirmed its forecast for annual sales volume growth of between 5% and 10% in 2026. It also expects cash cost of goods sold per metric ton to decline by a low-single-digit percentage, according to Investing.com. The company said customer commitments at higher prices, secured during the third quarter and early in the fourth quarter, will support improved realized prices as they flow into results. Chief Executive Timothy Flanagan linked pricing momentum in key commercial regions to his confidence that realized prices had reached an inflection point. He said this puts the company in a position to achieve “clearly higher realized prices in 2027,” according to GrafTech’s statement. These expectations remain accompanied by the company’s forecast for a reduction in working capital and inventory during the fourth quarter.