Harsh winter sends Aleris into red in qtr.
May 16, 2014 | 06:22 PM
| Bhavna Patel
NEW YORK Aleris International Inc. fell into the red in the first quarter due to severe winter weather conditions, a volatile Midwest premium and a weaker U.S. dollar.
The Cleveland-based aluminum company logged a net loss of $17.6 million in the three months ended March 31 vs. net income of $10.9 million in the same period last year on sales that dipped 5 percent.
First-quarter profitability was negatively impacted "due to the extreme weather conditions in North America that resulted in numerous lost shipping days, limited scrap availability and higher natural gas consumption as the weather led to difficult operating conditions," chairman and chief executive officer Steven J. Demetriou said during the companys earnings call.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.