Business

Oak Brook's A.M. Castle forecasts 3rd-quarter loss

Posted October 09, 2013 5:00 pm

Associated Press

Specialty metal and plastic products company A.M. Castle & Co. anticipates a third-quarter loss that is bigger than Wall Street expects.

The Oak Brook-based company said that tough industry conditions and the late cycle nature of its end markets pressured its performance.

A.M. Castle foresees a third-quarter loss of about 28 cents to 32 cents per share. Its adjusted loss is expected to be comparable to the preliminary estimate.

Analysts polled by FactSet predict a loss of 19 cents per share.

Revenue is forecast between $250 million and $255 million, which the company said was hurt by ongoing softness in key end markets.

A.M. Castle is expected to release its third-quarter financial results on Oct. 29.

The company's stock dropped $1.66, or 10.1 percent, to $14.73 in trading on Wednesday. The shares have traded between $10.83 and $18.74 over the last year.

Article Comments

Article Categories
Business Communities Oak Brook

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.