Elco Ltd. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 1,224.62 million compared to USD 1,240 million a year ago. Net loss was USD 36.63 million compared to net income of USD 48.6 million a year ago. Basic loss per share from continuing operations was USD 1.35 compared to basic earnings per share from continuing operations of USD 1.78 a year ago. Diluted loss per share from continuing operations was USD 1.35 compared to diluted earnings per share from continuing operations of USD 1.69 a year ago.

For the six months, sales was USD 2,493.56 million compared to USD 2,478.54 million a year ago. Net loss was USD 33.1 million compared to net income of USD 129.69 million a year ago. Basic loss per share from continuing operations was USD 1.22 compared to basic earnings per share from continuing operations of USD 4.75 a year ago. Diluted loss per share from continuing operations was USD 1.22 compared to diluted earnings per share from continuing operations of USD 4.6 a year ago.