Acerinox falls after high performance alloys disappoint

Acerinox

08/05/2026 08:51

** Shares in Spanish steelmaker Acerinox ACX.MC fall about 3% after some of its divisions booked profits below market expectations

** Although its stainless steel division posted core earnings above J.P. Morgan's estimates, Acerinox's high performance alloys unit's core profit was "severely" below (-71%) the brokerage's forecast

** The unit posted a 13 million euro ($15.27 million) core profit compared to the 45 million euros expected by JPM, as a result of continued weakness in the oil, gas and chemical industry

** "This is the weakest high performance alloys quarter since Haynes acquisition", JPM says

** Including today's fall the stock is up 12.2% YTD

($1 = 0.8514 euros)

 (Reporting by Javi West Larrañaga)

 ((javier.west@thomsonreuters.com; +34 918 35 61 12))