Acerinox falls after third-quarter earnings miss

Acerinox

31/10/2025 09:01

** Shares in Acerinox ACX.MC fall around 3% after the steelmaker posted lower than expected third-quarter earnings, citing low demand for stainless steel in the U.S. and Europe

** The company's core profits came in at 108 million euros ($125.95 million), missing analysts' average estimate of 112 million euros, according to data compiled by LSEG

** Its net profit almost halved, from 48 million euros to 25 million, missing consensus by 31% and J.P.Morgan's estimates by 36%, the brokerage says

** "The outlook continues to indicate no immediate recovery in sight, with demand 'at low levels'," JPM adds

** The steelmaker expects Q4 sales in the U.S. to fall quarter-on-quarter due to year-end seasonality, and core-profits to therefore be lower than in Q3

** Shares in the company are at the bottom of Spain's blue-chip index .IBEX

($1 = 0.8575 euros)

 (Reporting by Javi West Larrañaga)

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