Globe Specialty Metals: 3Q Earnings Snapshot
LONDON (AP) _ Globe Specialty Metals Inc. (GSM) on Monday reported a loss of $140.5 million in its third quarter.
On a per-share basis, the London-based company said it had a loss of 83 cents. Losses, adjusted for one-time gains and costs, came to 10 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The producer of silicon metal and silicon-based alloys posted revenue of $381.7 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $397.3 million.
In the final minutes of trading on Monday, the company’s shares hit 71 cents. A year ago, they were trading at $2.21.