The firm had revenue of $3.16 billion for the quarter. Hydro's underlying EBIT for the first quarter of 2020 was NOK 2,247 million, up from NOK 559 million for the same quarter last year. The reduced production will impact the financial results for Q3 2020.Hydro is taking all necessary measures to mitigate any customer impact.Contacts: Line Haugetraa Head of Investor Relations +47 41406376 line.haugetraa@hydro.comHalvor Molland Senior vice president, Media Relations +47 92979797 halvor.molland@hydro.comThis information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act, Discover new investment ideas by accessing unbiased, in-depth investment research, Oslo - Oslo Delayed Price. Hydro has halted operation of the pipeline transporting bauxite from Hydro’s Paragominas bauxite mine to the alumina refinery Alunorte for extended maintenance, temporarily halting production at the mine, and reducing production at Alunorte. Results were positively impacted by insurance compensation of NOK 113 million related to the cyber-attack in 2019. Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized. Four analysts have rated the stock with a sell rating and six have given a hold rating to the stock. During the planned maintenance work in Q3, it was discovered that a section of the pipeline had deteriorated faster than expected. Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty.
ET "Amid significant market uncertainty, it is more important than ever to focus on the elements that we control ourselves. The quarterly report and presentation slides will be available on www.hydro.com at the same time.. President & CEO Hilde Merete Aasheim and EVP & CFO Pål Kildemo will host an audio webcast and a conference call, in English, at 08:30 CEST the same day. ... Press Releases. 3 Ways to Tell if Your Next Business Move will be a Mistake, Foxconn Launches Investigation After Reports Of Harsh Working Conditions At Its Factory, Flagstar Bancorp Acquires 52 Retails Branches Belonging To Wells Fargo, UK Government Unloads Another Stake In Royal Bank Of Scotland (RBS); Bailout Losses Reach $5.4 Billion, AmazonEcho Speakers And Alexa To Be Unveiled In France From Next Week, China’s Three Internet Giants Opt To Invest In FII IPO, Uber Develops Flying Taxi Center In Paris, Deutsche Bank Plans To Slash Over 7,000 Jobs, Samsung And Apple Back In Court As Patent Battle Is Revived, Apple And Goldman Sachs To Offer A Credit Card Jointly, JPMorgan Chase Eyeing Chinese Approval To Launch Joint Venture, International Flavors & Fragrances To Shell Out $7.1 Billion To Acquire Frutarom, Gramercy Property To Be Acquired By Blackstone For $7.6 Billion, Boeing To Spend $3.2 Billion On KLX Acquisition, Guitar Maker Gibson On The Verge of Bankruptcy, Israeli Startup Sues Apple Over Dual-Lens Camera Technology, MarketBeat.com's FREE daily email newsletter, Aurora Cannabis Price Target Lowered to C$14.00 at CIBC.
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