Nov. 11, 2015
 
GBC Earnings Up for the Year

Global Brass and Copper Holdings, Inc., Schaumburg, Ill., reported net income of $6.9 million during the third quarter, a 32.5 percent declined compared with the same quarter of 2014. Through three quarters, the company’s net earnings totaled $32.3 million, up 10.6 percent.

GBC’s net sales for the third quarter decreased to $367.7 million from $436.8 million in third-quarter 2014, primarily due to lower metal prices. For the year to date, net sales of $1.2 billion were down 10.4 percent.

GBC’s volumes in the third quarter decreased by 1.5 percent to 129.8 million pounds as a result of lower demand in the munitions and industrial machinery and equipment markets, partially offset by higher demand in the coinage market.

“We achieved solid third-quarter results and cash flows with operating improvements at Olin Brass, growth at A.J. Oster, and increased green portfolio product sales at Chase Brass, and we achieved these results despite lower volumes in our munitions market and lower brass rod shipments into the industrial machinery market,” said John Wasz, president and CEO. “We believe our strong results amid this declining copper price environment demonstrate that our balanced book approach is effective in mitigating the effect of fluctuations in commodity prices.”


November 2017: 'Steady but Sloppy' Fittingly Sums 2017
More...
 
Pause
November 2017: Scrap First Steel Impact from Storms
More...
Fall 2017: Cutting & Sawing Equipment
More...
Summer 2017
More...
 
Pause
Advanced Controls on Braner Slitters
More...
AHVS Precision Leveler Features Flip-Top Design
More...
Formtek’s Tishken Slitter Increases Production Volume
More...
Red Bud System Handles High-Strength Steels
More...
Bradbury Launches Flat Trak CL Monitoring System
More...
Artus Knives Custom Designed
More...
 
Pause
Privacy Statement  |  Terms Of Use
Copyright by Metal Center News



Tuesday, December 12, 2017