Business · Companies · 7 hrs ago
Kardemir’s third-quarter profit misses analyst expectations
Kardemir reported third-quarter results for 2026, making steel in Karabük, Türkiye.
Its 21.1 billion lira in revenue fell short of forecasts, although it was 1.5% higher than a year earlier.
Operating margins weakened as costs rose faster than sales, and earnings before interest, taxes, depreciation and amortisation were also below analyst expectations.
Net profit reached 269.3 million lira, compared with a loss a year earlier, but remained below the 826 million lira analysts expected.
Lower financing and tax expenses helped the company return to profit, while foreign-exchange costs on trade receivables and payables weighed on operating profit.
Export sales dropped 34.8%, and the company’s revenue for the first nine months of 2026 fell 3.1% from a year earlier; no next steps were specified.
Kardemir reported third-quarter 2026 net profit of 269.3 million Turkish lira, below analyst expectations of 826 million lira.
Revenue was 21.1 billion lira, below the market expectation of 22 billion lira.
The company’s EBITDA was about 2.3 billion lira, below analysts’ expectation of 2.47 billion lira.
Kardemir’s net profit compared with a net loss of 884.5 million lira in the same quarter of 2025.
Lower financing expenses helped the company return to profit, while operating profit fell 62.1% year on year.
- Who
- Kardemir, formally Kardemir Karabük Demir Çelik Sanayi ve Ticaret A.Ş.
- What
- The company reported third-quarter results, including net profit below analyst expectations.
- When
- Third quarter of 2026. The results were reported on November 4, 2026.
- Where
- Not stated
- Why
- Lower financing expenses helped Kardemir return to profit. Its net profit missed expectations, but the source does not state why it fell short.
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- Net profit
- 269.3 million lira in the third quarter of 2026
- Analyst net-profit expectation
- 826 million lira
- Revenue
- 21.1 billion lira in the third quarter of 2026
- Analyst revenue expectation
- 22 billion lira
- EBITDA
- About 2.3 billion lira in the third quarter of 2026
- Net profit a year earlier
- Net loss of 884.5 million lira in the third quarter of 2025