Solvay to deliver record results well ahead of expectations
By Ed Frankl Solvay SA said Monday that it will raise its full-year guidance after second-quarter results were well ahead of expectations, driven by higher volumes and pricing.
The Belgian chemical company said it expects 2Q sales to be around 3.4 billion to 3.5 billion euros , with underlying earnings before interest, taxes, depreciation, and amortization of between EUR855 million and EUR865 million. Stronger volumes and pricing helped overcome cost inflation, with its materials, solutions and chemicals segments contributing to the strong results, the company said.
Solvay said the increase in full-year guidance, which it intends to do at second-quarter results on July 28, would reflect a combination of confidence in short-term trading momentum and potential risks associated with the uncertain macro environment. The Brussels-based company, however, didn't give details of the guidance raise. Solvay's latest 2022 outlook, published in May, is for underlying Ebitda to grow by mid- to high-single digits, and free cash flow to shareholders to exceed EUR650 million.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Chief Marketing Officer: Q2 2022Want to find out how you can be more customer centric? Gartner_MKTG's Q2 issue of the CMO journal is all about CustomerJourney orchestration — one of the key points of discussion for CMOs who want to become more customer-centric today: GartnerMKTG
Read more »
Uganda's Cheptegei retains world 10,000 title in US raceJoshua Cheptegei, also the world record holder, leads for large periods of the race and holds off all challengers on the final lap at Eugene's Hawyard Field to clock a winning time of 27 min 27.43 sec.
Read more »
Intel is setting expectations low for its Arc GPUsIntel says its Arc A750 performs slightly better than the RTX 3060.
Read more »
Box Office: How ‘Black Panther’ Created Unrealistic Expectations For Future MCU MoviesPrior to 'Black Panther' and 'Captain Marvel,' a global cume of $650-$850 million would have been just fine for a non-Iron Man/Spider-Man MCU flick.
Read more »
Netflix Earnings Preview: Wall Street Expects Subscriber Drop and Detail About Its Ad Ambitions'We sense low conviction across the Street, so this is another wait and see quarter, with investors likely resetting afterwards,' says Wells Fargo's Steven Cahall.
Read more »
SpaceX cargo ship docks with International Space StationSpaceX's 25th space station resupply mission delivered 5,880 pounds of crew supplies, science gear and equipment.
Read more »