Outokumpu slides after 'soft' guidance
Shares in Outokumpu OUT1V.HE fall around 6% after the Finnish stainless steel maker posted Q1 earnings in line with expectations but forecast what analysts described as "soft" view for Q2
It reported adjusted EBITDA at 49 million euros ($55.4 million) in Q1 vs an estimate of 48.9 million euros and forecast Q2 adjusted EBITDA "at a similar or higher level" than in Q1
J.P.Morgan analysts note, however, that the EBITDA guidance suggests downside risk versus consensus of 94 million euros and JPM's own estimate of 75 million euros
"We believe soft Q2 guidance and weak cash flow are likely to drive downward revisions to Q2 and 2025 consensus estimates," the analysts say
Shares in Outokumpu are among the worst performers on the pan-European STOXX 600 index .STOXX, which rises 0.3%
($1 = 0.8845 euros)
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