Shares of RTI International Metals slid today after the Moon titanium producer said higher interest expenses, winter weather, and other factors resulted in a first-quarter loss.
The company said it lost $4.2 million, or 13 cents per share, from continuing operations, versus a profit of $4.9 million, or 16 cents per share, in the year-ago quarter. Sales fell 8 percent to $174.5 million.
Analysts had forecast a loss of 11 cents per share, excluding one-time items, on sales of $187 million.
The company said it now expects full-year operating income will be at the lower end of its previously issued guidance of $75 million to $85 million. The majority of that will be generated in the second half of the year, the company said.
Operating income in the first quarter totaled $1.6 million, the company said.
RTI disclosed the results before the market opened. Shortly before 1 p.m., RTI shares were priced at $26.67, down 79 cents. They are off 20 percent this year.
Len Boselovic: 412-263-1941 or firstname.lastname@example.org