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Jun. 18, 2013, 7:52 AMMechel (MTL) reports a Q1 net loss of $321M, with adjusted EBITDA of $210M and a 16% Y/Y decline in revenues to $2.48B, as the Russian miner says it was hurt by unfavorable price trends in global markets but expects changes to its asset structure and debt portfolio will enable it to survive an extended slowdown. MTL +1% premarket. | Comment!
May 13, 2013, 11:04 AMRussian steel and coal producer OAO Mechel (MTL -4.4%) reports Q1 coking sales rose 13% Q/Q but fell 11% Y/Y, while sales of anthracite increased 19% Q/Q and fell 12% Y/Y. Coal output dropped 8% and steel output slipped 9% on the quarter, but MTL sees signs of improving market conditions, particularly for metallurgical coal in the Asia and North America. | Comment!
MTL vs. ETF Alternatives
Mechel OAO is engaged in mining, steel, ferroalloys and power sectors. The Company's steel business comprises the production and sale of semi-finished steel products in Russia, Ukraine, Turkey, Kazakhstan, the USA and Europe. It also produces coke.
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