BW LPG shares poised for worst day in >1 yr after profit miss

BW LPG

29/08/2022 08:39

** BW LPG  BWLPG.OL  shares fall 9% following the LPG
shipper's Q2 profit miss  urn:newsml:reuters.com:*:nASM000OXN
    ** The company reported EBITDA of $82.6 million for the
quarter, compared to Refinitiv poll hinting at $91.4 million
    ** The miss in earnings was driven by higher depreciation,
amortisation and interest costs, as Pareto analyst Eirik
Haavaldsen points out
    ** Haavaldsen says that while the company's outlook remains
positive for the rest of the year, the lack of inventory builds
in the U.S., which are close to 5 year lows, and extensive fleet
growth next year are reasons for concern 
    ** The stock is at its lowest in 1.5 months and on track for
its worst day since May 2021


 (Reporting by Agata Rybska)
 ((agata.rybska@thomsonreuters.com))