The 2020 Mid-Year Economic Update_long

General Cable 2Q Sales Down 7.6%

Year-to-date sales decreased 8 percent year-over-year.

General Cable Corp. (NYSE: BGC), Highland Heights, KY, reported sales for the second quarter ended June 30 of $943.1 million, a year-over-year decline of 7.6 percent. The manufacturer reported a loss of $70.8 million for the quarter, compared to year-ago profit of $29.8 million.

North America sales grew 5.5 percent to $560.2 million while Europe sales fell 6.6 percent to $214.3 million. Sales in Latin America declined 12 percent to $148 million and Africa/Asia Pacific sales fell 77.8 percent to $20.6 million.

For the first six months, sales were $1.9 billion, a year-over-year decline of 8 percent. The company reported a loss for the period of $58.4 million, compared to a year-ago profit of 25.1 million.

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