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Thyssenkrupp Cuts Outlook as Loss Deepens on Weak Demand, Prices

Thyssenkrupp Cuts Outlook as Loss Deepens on Weak Demand, Prices

Bloomberg3 days ago
Thyssenkrupp AG lowered its annual profit and revenue guidance after posting a deeper third-quarter loss, hit by sluggish demand and falling prices.
The German steel and engineering group said Thursday it now expects adjusted EBIT at the lower end of its earlier forecast of €600 million ($702 million) to €1 billion. Revenue is projected to decline by 5% to 7% this year, compared with an earlier outlook for a drop of up to 3%.
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