Solvay beats Q2 core profit expectations amid cost-cutting measures
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 31 2024
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Source: Yahoo Finance
Stronger-than-Expected Profit: Solvay reported a second-quarter EBITDA of 272 million euros, exceeding analyst expectations, driven by higher volumes and cost improvements despite challenges from negative pricing and soft demand.
Revised Financial Forecasts: The company has adjusted its 2024 EBITDA forecast to a smaller decline of 10% to 15% and increased its free cash flow projection to over 300 million euros, reflecting ongoing efforts to cut costs amid a volatile market.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
