Steelmaker Outokumpu beats expectations for Q3 core profit

Outokumpu Oyj

30/10/2024 07:15

Oct 30 (Reuters) - Finnish stainless steel maker
Outokumpu  OUT1V.HE  reported third-quarter core profit above
market expectations on Wednesday, supported by higher realized
prices for stainless steel in Europe and its strong ferrochrome
business.
    However, it warned about deteriorating markets for its
Europe and Americas business areas in the fourth quarter.
    Outokumpu's adjusted earnings before interest, tax,
depreciation and amortisation (EBITDA) soared 69% to 86 million
euros ($93 million) in the July-September quarter, beating
analysts' average forecast of 72.9 million in a company-provided
poll.
($1 = 0.9245 euros)

 (Reporting by Jagoda Darlak; editing by Milla Nissi)
 ((jagoda.darlak@tr.com))