Why GrafTech International Shares Are Up Today
Shares of GrafTech International (NYSE: EAF) jumped as much as 11.7% on Friday after the maker of graphite electrodes used in steel production reported earnings that came in well ahead of expectations.
On Friday, GrafTech reported third-quarter earnings of $0.45 per share on revenue of $347.35 million, surpassing analyst expectations for $0.41 per share in earnings on sales of $338 million. Sales volume increased 33% from the same quarter last year, and GrafTech generated a net income margin of 35%, and an adjusted margin of 50% based on earnings before interest, taxes, depreciation, and amortization (EBITDA).
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Source Fool.com
