Quaker Chemical: Rises after Q4 sales beat

Quaker Chemical

03/03/2020 17:37

** Specialty chemical products maker's shares  KWR.N  up 3%
at $160.83
    ** Company posts Q4 net sales of $391.3 mln vs est $389.9
mln - Refinitiv IBES data  urn:newsml:reuters.com:*:nPn5mGgRCa
    ** KWR reports Q4 net income of $15.2 mln vs $7.8 mln 
    ** Estimates that the coronavirus outbreak and lower Boeing
 BA.N  737 Max production may impact adj EBITDA by about $10 mln
and $6 mln, respectively, for 2020 
    ** KWR makes chemical milling maskants that are used in the
production of new aircraft, including the 737 Max
    ** Company says sales in China will be down in 2020 by about
9% from where they would have been otherwise due to the virus
outbreak
    ** Current avg rating on the stock is "hold", median PT $178
- Refinitiv Eikon
    ** Stock down 7.4% in 2019

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))