vallourec shares rose on friday after the french steeltube maker said it was expecting its secondquarter results to exceed its prior expectations on its performance in the middle east and due to smaller anticipated losses in germany vallourec said it saw secondquarter earnings before interest taxes depreciation and amortization increasing to around 370 million euros 4154 million up from its previous expectation of around eur320 million similar to what it made in the first quarter cash generation is now expected at around eur110 million in the quarter up from around breakeven previously andexcluding any potential asset salesis expected to be positive in the second half of the year further driving down net debt vallourec said net debt at the end of the quarter is expected at around eur870 million compared to around eur1 billion previously the company said adding it expects its 2023 ebitda between eur950 million and eur11 billion jefferies analysts jamie franklin and mark wilson say the new expectations are positive for the company and offer clear evidence it is moving in the right direction