Mechel Swings To Q1 Net Loss

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Russia's Mechel
MTL
posted a loss in the first quarter. Mechel swung to a quarterly net loss of $321 million, versus a year-ago profit of $218 million. Its adjusted net loss for the quarter came in at $233 million. However, analysts were estimating a net loss of $111 million. Its revenue declined 16% to $2.5 billion, while earnings before interest, taxation, depreciation and amortisation fell 57% to $210 million. Mechel shares closed at $2.84 yesterday.
Posted In: EarningsNewsloss
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