Normalization in Key Products Continues for Covestro in 2Q; EBITDA Down 53%
No-moat Covestro reported second-quarter EBITDA of EUR 459 million, down 53% over the prior-year period. This was largely expected because of the normalization in the polyurethane and polycarbonate markets. However, the stock is trading up modestly, which we think reflects the company’s confirmation of 2019 guidance for EBITDA of EUR 1.5--EUR 2.0 billion. Concerns over the outlook were rising after BASF, a major polyurethanes competitor, revised its 2019 guidance down significantly earlier in th...Covestro AG is a global supplier of high-tech polymer materials and application solutions developed for these materials. Co. produces precursors for polyurethane foams and the high-performance plastic polycarbonate in addition to raw materials for coatings, adhesives and sealants as well as specialty products, including high-quality films. Other precursors such as chlorine and by-products like styrene are part of Co.'s range of products.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.