Metsä Board’s earnings were quite a miss compared to forecasts, and overall, it was poor performance.
-Revenue was 446.0 million euros (422.6).
-Comparable operating result was -3.6 million euros
(0.7), or -0.8 percent of revenue (0.2). Operating result was -1.7 million euros (-0.2).
-Comparable earnings per share was -0.03
euros (0.01), and earnings per share was -0.02 euros (0.01).
The Q4 earnings guidance stated that the comparable operating result would be weaker than Q3 (below 19 million euros). Of course, a loss-making result is worse, but perhaps I would have described this verbally as the Q4 operating result being estimated to be loss-making.
Of course, there’s no need to issue a negative warning when the forecast is broad enough.