This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

GrafTech Reports Third Quarter 2013 Results, Announces Initiatives To Improve Operating Efficiencies And Global Competitiveness

Stocks in this article: GTI

Importantly, we continue to build our research and development capabilities to capitalize on our core competency of carbon and graphite material science and drive new product innovation and quality improvements across the organization, which provide us with sustainable competitive advantages that are difficult to replicate. Our annual research and development spend will be unaffected by these initiatives and is expected to be approximately $12 million to $15 million over the near term.

Mr. Shular commented, “We remain focused on strategically positioning for long-term growth and delivering sustainable value to our shareholders, and these initiatives, which are supported by a strong balance sheet, will drive improved profitability and competitiveness.”


In its October 8, 2013 report, the International Monetary Fund (IMF) reduced its estimate for 2013 global GDP growth to 2.9 percent, representing the fourth consecutive downward revision this year. The IMF noted that global growth remains slow and downside risks remain high. The IMF also noted that financial conditions in the EU are stabilizing and the region is expected to gradually emerge from the recession and return to growth in 2014.

On October 21, 2013, the World Steel Association (WSA) cited that global steel production, excluding China, declined 2.0 percent in the first nine months of 2013 as compared to the same period in the prior year. Looking into 2014, the WSA expects global steel consumption, excluding China, to rise 3.5 percent year-over-year.

We are targeting EBITDA for the full year 2013 to be in the range of $145 million to $155 million (a $5 million reduction from the prior guidance mid-point) and fourth quarter EBITDA to be in the range of $35 million to $45 million. As a result, we are targeting operating cash flow guidance to be in the range of $100 million to $120 million. Given the difficult operating environment, and in addition to the plan outlined above, we are reducing our targeted overhead expense ** to approximately $130 million in 2013.

Mr. Shular concluded, “Market conditions for our global steel customers continue to be challenging; however, there are leading indicators that point to an improvement in U.S. non-residential construction and that the EU recession is in a bottoming process. Some of our U.S. steel customers are cautiously optimistic and are seeing improvement in their non-residential construction business.”

5 of 7

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs