Petkim falls after Q3 loss misses expectations
BUZZ-Petkim falls after Q3 loss misses expectations ** Shares in Turkey's Petkim Petrokimya Holding PETKM.IS fall more than 3%, after the petrochemicals producer reported third-quarter results below market expectations
** The company reports a Q3 net loss of 817 million lira ($16.33 million), compared with a loss of 1.6 billion lira a year earlier; revenue rises to 32.0 billion lira from 28.8 billion lira a year ago
** Brokerage Is Yatirim says the results are significantly below expectations; the company reports a Q3 net loss versus forecasts for a net profit of 1.44 billion lira
** Q3 EBITDA comes in at 299 million lira, below estimates of 390 million lira, as a sharp contraction in petrochemical margins weighs on profitability
** Weaker-than-expected operating performance, lower monetary gains and higher tax expenses drive the earnings miss, the brokerage says
** Shares are on track for their worst day since October 28 and hit their lowest level in more than a week
($1 = 50.0383 lira)
(Reporting by Canan Sevgili)
((canan.sevgili@@thomsonreuters.com))
Recent news on Petkim Petrokimya Holding
See all newsPetkim falls after Q3 loss misses expectations
Brief: Petkim Q3 Loss Shrinks To 817.0 Mln Lira YoY, Revises 2026 Guidance
Brief: Petkim Says Master Plan Feed Process Officially Commenced, Plans Total Capex Of $70 Million For Feed Process
Brief: Petkim Q2 Net Result Turns To Profit Of 4.1 Bln Lira YoY, Announces 2026 Guidance
Brief: Petkim Says SOCAR and Technip Energies Italy Signs MoU To Evaluate Cooperation Within Scope Of Master Plan