- (PLX AI) – Neste shares fell 7% in early trading after second-quarter earnings missed expectations and the guidance for third quarter was cautious.
- • Q2 comparable EBIT of EUR 241 million fell short of consensus estimates of EUR 261 million
- • Neste said visibility remained low, and it expects volatility in the oil products and renewable feedstock markets to remain high
- • Sales volumes of renewable diesel in the third quarter are expected to be lower than in the previous quarter due to the large scheduled maintenance at the Singapore refinery
- • The company is seeing lower profitability in the renewable segment, analysts at Kepler Cheuvreux said
- • Neste is guiding to a still "healthy," but lower Q3 sales margin, as feedstock prices remain high
Quelle: PLX AI