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.

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