Imerys up after it confirms FY guidance despite Q3 volumes drop

Imerys SA

31/10/2023 12:06

** Imerys  IMTP.PA  shares up 2% after the French minerals
company confirmed FY guidance despite sales and EBITDA dropping
in Q3  
    ** Shares on track for their best day in about four months 
    ** 9-month sales fell 11.0% while current EBITDA dropped
15.4% to 481 million euros, but co still confirmed the low end
of its guidance for 2023
    ** "We are deploying a number of cash and cost savings
initiatives to protect our financial performance," co adds 
    ** A Paris-based analyst says that co confirming FY guidance
at low end of range "is not bad news," given volumes dropped 14%
in the third quarter
    ** "The consensus was already aligned with the low end of
the guidance," the analyst adds 
    



 (Reporting by Olivier Sorgho)
 ((Olivier.Sorgho@thomsonreuters.com))