GrafTech International Ltd Watchlist
Graftech Q1 2022: Debt Deleveraging Continues, LTA Pricing Overhang An Issue
252 Views, 09 May 2022 22:47
GrafTech International Ltd (EAF US) reported solid results for Q1 2022. The stock still continues to look cheap at 4.7x FY22 PE.
- The debt deleveraging target of 400 mn USD a year seems on track, and the company will be zero debt by FY23. FCF yield is 24% at the current price.
- The company also bought back 30 mn USD of stock (3 mn shares @9.88 USD/share representing 1.1% of the outstanding shares) in Q1 2022.