July 9, 2020 / 10:29 AM / a month ago

Covestro expects Q2 core profit to beat consensus by 55%

July 9 (Reuters) - Covestro expects to beat quarterly core profit expectations by more than 50%, the German chemicals maker said on Thursday.

“Preliminary second-quarter key financial data deviated from capital market expectations,” the company said, but did not specify any reasons behind the outperformance.

Its preliminary earnings before taxes, depreciation and amortisation (EBITDA) came in at 124 million euros versus the 80 million expected on average by analysts in a consensus published by Vara Research on July 8, the former Bayer subsidiary said. (Reporting by Zuzanna Szymanska in Gdansk; editing by Jason Neely)

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