Voestalpine Reports Lower Than Expected 3Q EBIT

Reuters

VIENNA, Feb 10 (Reuters) - Austria's Voestalpine reported a higher than expected fall in its third-quarter operating profit due to the effects of the sharp price falls and overcapacity in the oil and gas sector.

Earnings before interest and tax (EBIT) fell to 151.9 million euros ($171.48 million), the company said in a statement on Wednesday. Analysts polled by Reuters had on average expected EBIT of 157 million euros for the period.

Revenue came in at 2.594 billion euros in the three months from October to December, compared with an average forecast of 2.667 billion in the Reuters poll.

(Reporting by Kirsti Knolle; editing by Francois Murphy)

Copyright 2016 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Project Manager
Expertise: Project Management
Location: Pasadena, TX
 
Superintendent
Expertise: Construction Superintendent|Heavy Machinery Operator|Project Management
Location: Pittsburgh, PA
 
United States Houston: Account Manager II
Expertise: Business Development|Sales
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $48.69/BBL 5.91%
Light Crude Oil : $47.05/BBL 5.32%
Natural Gas : $2.952/MMBtu 1.60%
Updated in last 24 hours