Solvay Raises 2022 Guidance on Bumper 3Q Results
October 24 2022 - 2:39AM
Dow Jones News
By Pierre Bertrand
Solvay SA on Monday raised its full-year guidance as it said
that it expects its third-quarter result boosted by demand and
strong pricing.
The Belgian chemicals company said it expects earnings before
interest, taxes, depreciation and amortization growth to be around
28% for 2022 compared with last year. This also compares with the
previous guidance provided in July of between 14% and 18% growth
for 2022.
The company expects third-quarter net sales to be around 3.6
billion euros ($3.55 billion) and underlying Ebitda to be around
EUR900 million, it said.
"The performance in the quarter reflects supportive demand
momentum across many key markets together with continued strong
pricing across all three business segments," Solvay said.
The new full-year guidance takes fourth-quarter order levels
into account which indicate some level of weakening, the company
said.
Solvay will report its earnings on November 3.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
October 24, 2022 02:24 ET (06:24 GMT)
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