The 2020 Mid-Year Economic Update_long

General Cable Sales Down 11.7% in 1Q

The company reported a loss of $38.1 million in the first quarter.

General Cable Corp. (NYSE: BGC), Highland Heights, KY, reported sales for the first quarter of $1.3 billion, down 11.7 percent year-over-year. The company reported a loss of $38.1 million, compared to a loss of $315.4 million in the prior year quarter.

"Our first quarter results reflect the benefit of better than expected production and contract service activity in our submarine turnkey project business in Europe and increased projects in our electric utility distribution and telecommunication businesses in North America," said Brian J. Robinson, executive vice president and CFO. "Overall, these results were partially offset by the impact of general economic weakness in Latin America and typical seasonality."

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