Refile: BUZZ-UPM-Kymmene rises on 'strong consensus beat' in Q3

Metsa Board Oyj

14/10/2022 08:08

(Fixes typographical error in headline)
    ** Shares in UPM-Kymmene  UPM.HE  rise 5% after the Finnish
forestry firm posted on Thursday higher Q3 results and said it
it expects 2022 adjusted EBIT to improve compared to 2021
 urn:newsml:reuters.com:*:nFWN31E2YW
    ** UPM-Kymmene reports preliminary adjusted EBIT for the
third quarter rising 84% to 779 million euros ($762 million),
saying sales prices offset rising costs
    ** "While we do not expect the record 3Q performance to
repeat in 4Q, we see around 15% upgrade to EUR 1.74 billion EBIT
consensus," Jefferies analysts say
    ** The brokerage points out that the production in the
quarter was "back to normal" after strikes in H1 and considers
the preliminary numbers as a "strong consensus beat"
    ** Shares in other Finnish forestry firms also rise - Stora
Enso  STERV.HE  is up 3%, Metsa Board  METSB.HE  rises 2%
($1 = 1.0218 euros)
 (Reporting by Boleslaw Lasocki)
 ((boleslaw.lasocki@tr.com))