Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2025

Sep. 30, 2024

Sep. 30, 2025

Sep. 30, 2024

Statement of Comprehensive Income [Abstract]

Net sales

$ 143,998

$ 130,654

$ 387,677

$ 404,565

Cost of goods sold

132,041

134,885

372,691

402,059

Lower of cost or market inventory valuation adjustment

1,650

7,843

6,326

11,916

Gross profit (loss)

10,307

(12,074)

8,660

(9,410)

Research and development

1,639

1,245

4,866

4,319

Selling and administrative expenses

13,784

13,060

41,673

33,435

Rationalization expenses

(99)

3,156

Operating loss

(5,116)

(26,280)

(37,879)

(50,320)

Other expense (income), net

142

(285)

(1,837)

(1,769)

Interest expense

24,517

16,503

79,776

47,738

Interest income

(1,383)

(1,098)

(5,184)

(4,475)

Loss before income taxes

(28,392)

(41,400)

(110,634)

(91,814)

Income tax expense (benefit)

(5,332)

44,085

(10,125)

Net loss

$ (28,482)

$ (36,068)

$ (154,719)

$ (81,689)

Basic loss per common share:

Net (loss) income per share (usd per share)

$ (1.10)

$ (1.40)

$ (5.97)

$ (3.17)

Weighted average common shares outstanding (shares)

^[1]

25,933,254

25,769,616

25,896,520

25,756,936

Diluted loss per common share:

Net (loss) income per share (usd per share)

$ (1.10)

$ (1.40)

$ (5.97)

$ (3.17)

Weighted average common shares outstanding (shares)

^[1]

25,933,254

25,769,616

25,896,520

25,756,936

Other comprehensive (loss) income:

Foreign currency translation adjustments, net of tax of $0, $(16), $0 and $29, respectively

$ 1,601

$ 10,308

$ 36,178

$ (2,404)

Commodities, interest rate and foreign currency derivatives, net of tax benefit of $7, $386, $19 and $2,111, respectively

(39)

(1,315)

(121)

(7,516)

Other comprehensive income (loss), net of tax

1,562

8,993

36,057

(9,920)

Comprehensive loss

$ (26,920)

$ (27,075)

$ (118,662)

$ (91,609)

[1]	All share and per share data for all periods presented have been retroactively adjusted to reflect the 1-for-10 reverse stock split which became effective on August 29, 2025. See Note 1, “Organization and Summary of Significant Accounting Policies” for further information.

GRAFTECH INTERNATIONAL LTD 10-Q