Outokumpu Posts Wider-Than-Expected Q3 Loss
Outokumpu Oyj (OTC: OUTKY) reported a wider-than-expected third-quarter loss.
Outokumpu posted a quarterly net loss of 115 million euros ($149.4 million), versus a year-ago loss of EUR134 million.
Its sales fell to EUR974 million, from EUR1.23 billion. However, analysts were expecting a loss of EUR56.6 million on revenue of EUR1.08 billion.
Outokumpu posted an operating loss of EUR89 million, versus a year-ago loss of EUR53 million.
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