Outokumpu Posts Wider-Than-Expected Q3 Loss

Outokumpu Oyj OUTKY reported a wider-than-expected third-quarter loss. Outokumpu posted a quarterly net loss of 115 million euros ($149.4 million), versus a year-ago loss of EUR134 million. Its sales fell to EUR974 million, from EUR1.23 billion. However, analysts were expecting a loss of EUR56.6 million on revenue of EUR1.08 billion. Outokumpu posted an operating loss of EUR89 million, versus a year-ago loss of EUR53 million.