Covestro AG downgraded its earnings estimates in 2022 due to ongoing constraints in Shanghai, higher energy costs and raw materials, and lower-than-expected global economic growth. The German chemical company now expects for the year EBITDA 2-2.5 billion euros, lower than the previous estimate for 2.5-3 billion euros. The new estimates are lower than the previous […]
Tag: covestro
Covestro: Upgraded earnings estimates for the third time
German chemical company Covestro upgraded earnings estimates in 2021 for the third time and was optimistic about next year’s outlook, adding that it was unclear whether the push from higher prices would continue. The company, whose products are used to make car seats and phone cases, announced a 89% increase in profits for the third […]