Johnson Matthey Stock Recovers From Pre-Earnings Jitters With Solid 1H Results; Fairly Valued
Johnson Matthey shares were up 8% at the time of writing after the company reported solid first-half results. First-half underlying operating profit of GBP 271 million was in line with consensus and our expectations. While the share price reaction looks overly dramatic given in-line profits, the stock has only recovered from its decline in the last few days as general market sentiment has grown increasingly bearish, particularly for companies leveraged to the auto sector like Johnson Matthey. Th...Johnson Matthey is a provider of sustainable technologies. Co. operates in five divisions: Emission Control Technologies, a manufacturer of catalysts and catalyst systems that enable clean air; Process Technologies, a supplier of catalysts, licensing technologies and other services to the syngas, oleo/biochemical, petrochemical, oil refining and gas processing industries; Precious Metal Products, which include management, distribution, refining and recycling of precious metals, and fabricate products; Fine Chemicals, a supplier of active pharmaceutical ingredients and custom services for pharmaceutical customers; and New Business, which focuses on additional areas of potential growth.
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