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Graftech International (GTI)’s adjusted 4Q EBITDA of $75M missed the Street’s outlook of $84.9M.  Guidance for 2012 fell 30-40% short of consensus causing the shares to drop sharply on Thursday and Friday of last week and sent a chill through the steel sector, as some read the lowered guidance as commentary on the steel outlook for 2012.

We suspect that the shortfall was due to some over-optimism from the company.

Our full report is available to subscribers only and provides further thoughts on Graftech’s 4Q earnings report and conference call as well as the implication for the stock and other equities.

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