Voestalpine Quarterly Profit Declines 10% After Forecast Cut
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Voestalpine AG posted a 10% drop in fiscal second-quarter profit after Austria’s biggest steelmaker cut its forecast for full-year earnings on weakening economies.
Net income after payments to hybrid bondholders declined to 104.8 million euros ($135 million) in the three months ended in September, from 116.6 million euros a year earlier, the Linz-based company said today in a statement. Sales held at 3.05 billion euros. The average of four analyst estimates compiled by Bloomberg had estimated net income of 92.3 million euros.