Thyssenkrupp Beats Estimates, Still in Talks With Tata
Thyssenkrupp AG, Germany’s largest steelmaker, reported fiscal third-quarter profit fell 18 percent as record steel exports from China continued to put pressure on prices. Adjusted earnings before interest and taxes dropped to 441 million euros ($493 million) in the three months through June from 539 million a year earlier, the Essen-based company said in a statement on Thursday. That beat the 419 million euro average of eight analysts’ estimates compiled by Bloomberg. Thyssenkrupp reiterated its fiscal-year profit forecast of at least 1.4 billion euros. The U.K.’s decision to leave the EU to Thyssenkrupp was surprise that delays talks with Tata Steel, Thyssenkrupp CFO Guido Kerkhoff says in a Bloomberg Television interview with Manus Cranny, declining to evaluate decision or to give more details on talks.