Fuchs Petrolub falls on reiterating cautious outlook

Fuchs Se

28/04/2023 11:20

** Shares in Fuchs Petrolub  FPEn.DE  fall 3.5% after the
German lubricant manufacturer reiterated its outlook for 2023
despite a set of strong results in the first quarter
    ** The stock is among the worst performers of Germany's
mid-cap index on Friday  .MDAXI 
    ** "Fuchs 2023 guidance was already perceived conservative
with FY22 reporting but with 1Q23 reporting it might be even
more now perceived as overly cautious," Baader Helvea says
    ** The brokerage adds that it therefore reiterates its
bullish view on the stock
    ** The company posted its Q1 EBIT at 103 million
euros($113.16 million), which is up 11% compared to the previous
year

($1 = 0.9102 euros)

 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))