Shares drop 2.8% as second-half earnings disappoint

  • Umicore stock slumps after earnings miss expectations
  • Shares down 2.8% to EUR20.38
  • Second-half earnings fell 18% to 472 million euros
  • Sales of EUR1.8 billion trailed expectations by 12%
  • Ebitda guidance for 2024 is 6% below consensus

Umicore shares traded lower Friday following lower-than-expected earnings and guidance. At 0828 GMT, shares in the Belgium metals and battery firm were down 2.8% to EUR20.38, after reaching a low of EUR19.76 earlier in the session. Umicore’s second-half earnings before interest, taxes, depreciation and amortization fell 18% to 472 million euros ($295.2 million) on lower metal prices and investment costs, the company said. Citi analysts said the figure is 3% below analyst expectations, while sales of EUR1.8 billion trailed expectations by 12%. Ebitda guidance for 2024 is between EUR925 million and EUR975 million, making the midpoint 6% below consensus, Citi analysts said.

Companies Public: Umicore (UMI.BR)
Key People: David Sachs (Author)

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Factuality Level: 8
Factuality Just: The article provides specific information about Umicore’s lower-than-expected earnings and guidance, including the percentage decrease in earnings, the reasons for the decrease, and the analyst expectations. The information is based on statements from the company and analysts, which adds credibility to the article. However, the article is short and lacks in-depth analysis or additional context.
Noise Level: 7
Noise Just: The article provides relevant information about Umicore’s lower-than-expected earnings and guidance. It includes specific figures and quotes from Citi analysts. However, it lacks in-depth analysis, antifragility considerations, and accountability of powerful people. It also does not provide actionable insights or solutions.
Financial Relevance: No
Financial Markets Impacted: No
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Just: The article pertains to the financial performance of Umicore, a Belgium metals and battery firm. It discusses lower-than-expected earnings and guidance, which can impact the company’s shares in the financial markets.

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