Brief: Stolt-Nielsen Q3 EBIT beats forecast in weak chemical tanker market

Stolt-Nielsen

04/10/2018 07:45

Oct 4 (Reuters) - Stolt-Nielsen Ltd  SNI.OL :
    * Q3 REVENUES $543.1 MILLION (REUTERS POLL $523 MILLION)
    * Q3 EBIT $54.8 MILLION (REUTERS POLL $47.2 MILLION)
    * Q3 NET PROFIT $3.0 MILLION (REUTERS POLL $11.1 MILLION)
    * $12.9 MILLION NEGATIVE IMPACT RESULTING FROM A CHANGE IN
ACCOUNTING FOR COMPANY'S INVESTMENT IN AVANCE GAS HOLDINGS
LIMITED
    * LOOKING AHEAD, CHEMICAL TANKER MARKET IS LIKELY TO REMAIN
WEAK
UNTIL TONNAGE PICTURE IMPROVES LATER NEXT YEAR
    * IN MEANTIME, FLUCTUATING BUNKER PRICES WILL CONTINUE TO
IMPACT
RESULTS
    * AT STOLTHAVEN TERMINALS, WE CONTINUE TO SEE STEADY
IMPROVEMENTS
IN BOTH UTILISATION AND OPERATIONAL ENHANCEMENTS, IN LINE WITH
OUR LONG-TERM GOALS
    * AT STOLT TANK CONTAINERS, OUTLOOK REMAINS POSITIVE AS
GLOBAL
TANK CONTAINER DEMAND CONTINUES TO GROW
    * FOR STOLT SEA FARM, CONTINUED OVERALL IMPROVEMENT IS
ANTICIPATED, DRIVEN BY HIGHER TURBOT PRICES

Source text for Eikon:  urn:newsml:reuters.com:*:nGNE2WyllN
Further company coverage:  SNI.OL 

 (Reporting By Ole Petter Skonnord)
 ((olepetter.skonnord@thomsonreuters.com;))