ThyssenKrupp Posts Drop In Q2 Profit, Lifts Forecast

German company

reported a drop in its profit for the second quarter and lifted its guidance for 2015. ThyssenKrupp's quarterly net profit from continuing operations slipped to EUR50 million, from EUR271 million, in the year-ago quarter. Its sales surged 7 percent to EUR11 billion, while orders rose 2 percent to EUR10.41 billion. Its adjusted EBIT climbed 32 percent to EUR405 million, versus EUR306 million. Adjusted EBIT at the company's elevators division climbed to EUR168 million, versus EUR143 million. For this year, the company now projects adjusted earnings before interest and taxes to reach 1.6 billion euros to 1.7 billion euros.