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Investing.com -- Kloeckner shares dropped 4% on Wednesday after the company reported third-quarter EBITDA of €43 million, falling 4% below consensus estimates.
The quarterly performance showed mixed results across regions. KM Europe delivered stronger-than-expected results, but these gains were not enough to offset softer performance from KM Americas.
Operating cash flow was weak during the quarter, primarily due to temporarily higher net working capital.
Despite the earnings miss, Kloeckner maintained its full-year guidance, with EBITDA still expected to range between €170 million and €240 million. The company continues to anticipate significantly positive operating cash flow for the year.
However, Kloeckner has removed its previous stability guidance regarding operating cash flow, suggesting potential volatility in this metric for the remainder of the year.
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