Arkema SA

AKE: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€721.00	Hqvg	Ndftpxst

Arkema Beats Q3 Estimates and Confirms 2022 Guidance; Shares Undervalued

Rob Hales

Nov 10, 2022

No-moat Arkema reported third-quarter EBITDA of EUR 495 million, up 4% over 2021 and slightly above the company-compiled consensus. Guidance for 2022 EBITDA of EUR 2.1 billion was maintained despite some destocking expected in the fourth quarter with the economy slowing, particularly in Europe. We don’t expect to make a material change to our EUR 105 fair value estimate. At current levels, the shares look undervalued.

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