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Nippon Steel Slips To Loss In Q1; Sees Loss In H1, FY20

(RTTNews) - Nippon Steel Corp. (NISTY.PK) reported Tuesday that its first-quarter loss attributable to owners of parent was 42.07 billion yen, compared to last year's profit of 33.33 billion yen. Loss per share were 45.69 yen, compared to profit of 36.20 yen last year.

Operating loss was 27.51 billion yen, compared to operating profit of 60.60 billion yen in the prior year.

Consolidated revenue dropped 25.7 percent to 1.13 trillion yen from 1.52 trillion yen last year.

Looking ahead for the first half of fiscal 2020, the company expects attributable loss of 200 billion yen or 217 yen per share, business loss of 150 billion yen, and net sales of 2.20 trillion yen, down 27.8 percent from last year.

For the full year 2020, the company projects business loss of 200 billion yen.

In Japan, Nippon Steel shares were trading at 928 yen, up 5.75 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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