Globe Specialty Metals: 1Q Earnings Snapshot
LONDON (AP) _ Globe Specialty Metals Inc. (GSM) on Monday reported a first-quarter loss of $26.8 million, after reporting a profit in the same period a year earlier.
The London-based company said it had a loss of 16 cents per share. Losses, adjusted for pretax expenses, came to 13 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.
The producer of silicon metal and silicon-based alloys posted revenue of $456.8 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $481.1 million.
In the final minutes of trading on Monday, the company’s shares hit $1.51. A year ago, they were trading at $10.40.