Ferroglobe PLC said Feb. 26 that it turned in a net profit of US$32.2 million, or 19 cents per share, in the fourth quarter of 2017, from a year-ago net loss of US$242.0 million, or US$1.41 per share.
Revenue for the three-month period increased to US$468.2 million, from US$389.9 million a year ago.
For full-year 2017, the silicon and manganese producer swung to a profit of US$25.2 million, from a net loss of US$338.4 million a year earlier.
Sales for the year increased to US$1.74 billion, from US$1.58 billion a year ago.
The results for the quarter and full-year ended Dec. 31, 2017, included a benefit of US$30.9 million resulting from U.S. tax reform.
Meanwhile, CapEx for the year decreased by US$80.4 million.
As of Dec. 31, 2017, net debt was reduced to US$386.9 million, from US$405.0 million in 2016.