Arkema SA
AKE: XPAR (FRA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€399.00 | Gyr | Fmtywths |
Arkema Delivers Strong Q3 Results and Raises Guidance Again
No-moat Arkema reported third-quarter EBITDA of EUR 474 million, up 54% versus 2020 and beating the company-compiled consensus by 13%. Strong performance led to another guidance upgrade. Arkema is now calling for 2021 EBITDA of EUR 1.6 billion (previously EUR 1.4 billion) based on at least 40% EBITDA growth in specialty materials (previously 30%). Shares are reacting positively, up 4% intraday. Our 2021 EBITDA estimate now looks light. We expect to boost our near-term estimates, which will likely modestly increase our EUR 95 fair value estimate.