Norsk Hydro Continues to Prove Us Wrong as Impressive 2017 Results Continue in 3Q
Norsk Hydro issued steady third-quarter results, as the company continued its impressive year-to-date performance. Although we still forecast materially lower alumina and aluminum prices over the long term, prices rallied substantially during the third quarter, driving Hydro's profits above our prior expectations. Having updated our valuation model to reflect higher average selling prices than we previously anticipated in 2017 and 2018, we now expect the company to deliver higher near-term profi...Norsk Hydro is an aluminium group based in Norway. Co. is engaged in the supply of aluminium and aluminium products. Co. supplies casthouse products, such as extrusion ingots, sheet ingots and foundry alloys. Co's customers are active in sectors such as the packaging, lithographic, building, automotive and transport sectors. In addition, Co. is engaged in the production of power in Norway. Its business is divided into six operating segments: Bauxite & Alumina, Primary Metal, Metal Markets, Rolled Products, and Energy and Other and Eliminations.
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