Norsk Hydro Profit Misses Estimates
Norwegian aluminium producer Norsk Hydro posted a third-quarter profit below market expectations and warned of rising costs in its smelting division for the final quarter. Shares fell sharply following the announcement amid supply and operational vulnerabilities.
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NORSK HYDRO ASA reported a third-quarter core profit of 9.09 billion Norwegian crowns ($974.3 million) on Friday morning, missing the 9.53 billion crown analyst consensus. The Norway-based aluminium producer warned of rising costs and lower realised metal prices ahead. Shares tumbled 6.2% in early trading in Norway to touch a one-year low.
