Covestro Q3 2022 Results: Revenue Beats Expectations, EPS Lags
Covestro (ETR:1COV) Third Quarter 2022 Results
Main financial results
- Revenue: €4.62bn (+7.3% compared to 3Q 2021).
- Net income: €12.0m (down 98% compared to 3Q 2021).
- Profit margin: 0.3% (compared to 11% in the 3rd quarter of 2021).
- The lower margin was driven by higher expenses.
- EPS: €0.063 (compared to €2.44 in the 3rd quarter of 2021).
All figures shown in the table above are for the 12 month period (TTM)
Covestro revenue beats expectations, EPS falls short
Revenue beat analysts’ estimates by 5.5%. Earnings per share (EPS) missed analysts’ estimates by 79%.
Going forward, revenues are expected to increase by an average of 1.2% per year over the next 3 years, while revenues from the chemical industry in Germany are expected to remain stable.
Performance of the German chemical industry.
Shares of the company are down 3.8% from a week ago.
You should always think about the risks. Concrete example, we spotted 2 warning signs for Covestro you should be aware.
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