XTRA:KCOMetals and Mining
Klöckner And Co (XTRA:KCO) Stock Faces Margin Pressure After Heavy Q2 Loss
The market is giving Klöckner & Co a cautious nod rather than a cheer. The stock closed yesterday at €12.36, only slightly higher over the past week and month, even as Q2 landed with a heavy headline loss of €2.7 per share and net income of €269.1m in the red.
The emotional shock sits in that earnings hit. Yet under the surface, revenue of €1.71b and solid EBITDA before special effects point to a steel distributor that is trying to grow higher value business while absorbing a painful Becker...