Outokumpu posts drop in Q3 earnings despite delivery growth

摘要

Finnish stainless steelmaker Outokumpu registered a drop in earnings to Eur56 million, down 52% in the third quarter compared to the same period last year, as it faced hedging losses totaling Eur 41m, and third-party supplier production issues. Despite ―very healthy underlying demand‖ and a 2.5% growth in total deliveries to 623,000 mt, driven by record-high shipments in the Americas, the company's financial position this quarter weakened significantly.