Solvay shares fall after first-quarter sales miss forecasts
Updated
Updated · MarketWatch · May 7
Solvay shares fall after first-quarter sales miss forecasts
10 articles · Updated · MarketWatch · May 7
The stock dropped 9.6% to 26.08 euros after net sales fell 8.5% organically to 997 million euros, below the 1.04 billion euros analysts expected.
Quarterly EBITDA was 219 million euros, broadly in line with forecasts, while chief executive Philippe Kehren said operating conditions were unlikely to improve in the short term.
Solvay kept its full-year EBITDA guidance of 770 million to 850 million euros, despite a Saudi Arabia site being halted since mid-March and wider Gulf war cost pressures.
Do one-off gains mask deeper issues in Solvay's performance amid the ongoing Middle East crisis?
Is Solvay's transformation enough for the chemical industry's new era of geopolitical volatility and supply chain disruption?