GrafTech International (GTI +2%) moves up in spite of posting a mixed Q1, missing on the top...

|By:, SA News Editor

GrafTech International (GTI +2%) moves up in spite of posting a mixed Q1, missing on the top line but beating on its bottom line EPS. but the company cut 2013 EBITDA guidance. Net sales increased 5% Y/Y, driven by higher graphite electrode volumes which had significant customer de-stocking. But the company warned that, as a result of declining economic and steel data, it didn't see markets improving for the full year and guides down. It now expects to earn between $165M to $195M, reflecting weak demand for graphite electrodes.