Add as a preferred source on GoogleSeven of Eight Basic Materials Companies Beat Q3 Revenue Estimates
Three companies beat EPS estimates, four missed and one matched forecasts. Mosaic missed adjusted EPS, while Albemarle's full-year volume guidance was 225,000 to 235,000 tons of lithium carbonate equivalent.
Seven of eight Basic Materials companies reporting third-quarter results beat revenue estimates, while only three beat earnings-per-share forecasts, showing a wider gap between sales and profit results.
One company missed revenue estimates. For earnings per share (EPS), four companies missed forecasts and one matched them, leaving revenue results stronger across the group.
Mosaic posted a net loss and missed adjusted EPS estimates. Investor optimism focused on its cost-cutting initiatives and operational efficiency gains. Albemarle benefited from higher lithium prices and recovering demand, while an earlier CGP3 outage affected shipments. Its full-year volume guidance was 225,000 to 235,000 tons of lithium carbonate equivalent.
The results follow the eight-company slate in TokenPost’s earlier coverage of the materials reporting schedule.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.