ThyssenKrupp Stock Down On Q2 Loss, Weak Orders And Outlook

Shares of ThyssenKrupp AG were losing around 2 percent in the morning trading in Germany after the industrial engineering and steel company reported Thursday a loss in its second quarter, compared to profit year's profit, amid weak sales and orders. Looking ahead for fiscal 2023, the company continues to project lower earnings in a challenging environment with persistently high energy prices and high inflation.

Looking ahead for fiscal 2023, the company continues to expect net income to decrease but at least break even, and adjusted EBIT to be a figure in the mid to high three-digit million euro range, compared to last year's 2.1 billion euros.

In the second quarter, net loss attributable to shareholders was 223 million euros, compared to last year's profit of 565 million euros. Loss per share came to 0.36 euro, compared to prior year's profit of 0.91 euro.