thyssenkrupp: shares fairly flat after uneventful report
(CercleFinance.com) - thyssenkrupp's order intake and sales rose by 7% in the third quarter of fiscal year 2017/2018, the German industrial conglomerate said on Thursday.
On a comparable basis, meaning adjusted for currency and portfolio effects, the order intake improved by 10% in the quarter, while sales rose by 9%, the company said.
However, the group's adjusted EBIT for Q3 reached 332 million euros, down 36% due to the booking of 200 million euros of additional costs at its industrial division.
For the current fiscal year, thyssenkrupp expects consolidated adjusted EBIT of around 1.8 billion euros, up from 1.7 billion euros, which is at the lower end of its original guidance range of 1.8 billion euros to 2 billion euros, due to a lower contribution from its industrial unit.
As a reminder, the group cut its full-year earnings guidance last month on additional costs at its industrial unit.
After this uneventful report, the thyssenkrupp stock was down 0.5% at 21.4 euros on the Xetra market this Thursday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
On a comparable basis, meaning adjusted for currency and portfolio effects, the order intake improved by 10% in the quarter, while sales rose by 9%, the company said.
However, the group's adjusted EBIT for Q3 reached 332 million euros, down 36% due to the booking of 200 million euros of additional costs at its industrial division.
For the current fiscal year, thyssenkrupp expects consolidated adjusted EBIT of around 1.8 billion euros, up from 1.7 billion euros, which is at the lower end of its original guidance range of 1.8 billion euros to 2 billion euros, due to a lower contribution from its industrial unit.
As a reminder, the group cut its full-year earnings guidance last month on additional costs at its industrial unit.
After this uneventful report, the thyssenkrupp stock was down 0.5% at 21.4 euros on the Xetra market this Thursday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.