Reply To: Energy Crisis Pushes German Gas Giant Uniper SE To Seek 9 Billion Euro Bailout

#43725
Truman
Participant

Economic Crisis Contagion ..

higher unhedged #energy in Europe costs hitting Arconic $ARNC 22.68 ▼ 2.81 (▼11.01%)
Lowers FY22 revenue and adjusted EBITDA guidance to reflect impact of operational issues and combination of demand declines

Third quarter 2022 Adjusted EBITDA is expected to be in the range of $135 million to $150 million. The third quarter results will be impacted by production outages and other operational challenges in Tennessee and Davenport that have reduced production from planned operating rates. Additionally, hyperinflationary energy costs are driving increased cost pressures and declining demand in Europe, which are expected to have an increasingly negative impact on third and fourth quarter results.

https://www.arconic.com/press-release/2022-09-14/arconic-provides-preliminary-third-quarter-operating-results-and-updated-full-year-outlook/