Key Points Q3’25 EBITDA and EPS beat; Q4’25 guidance range mid-point below consensus Sequentially higher EBITDA margins in both PM and S&S segments We rate Covestro shares Neutral, with a 12-month target price...
Key Points Periods of extreme MDI demand weakness, similar to the last three years, typically followed by strong demand rebounds MDI cycle could normalize as early as 2026/2027 with significant earnings and...
Key Points Periods of extreme MDI demand weakness, similar to the last three years, typically followed by strong demand rebounds MDI cycle could normalize as early as 2026/2027 with significant earnings and...
Key Points Q1’25 EBITDA and EPS miss; Q2’25 guidance ahead of consensus while FY2025 guidance range mid-point in line with consensus Sequentially higher EBITDA margins in S&S segment but lower in PM...
Key Points Q4’24 EBITDA and EPS miss; FY2025 guidance range mid-point in line with consensus Sequentially higher EBITDA margins in PM segment but lower in S&S segment. Healthy y-o-y PM segment volume...
Key Points Periods of extreme MDI demand weakness, similar to the last two years, typically followed by strong demand rebounds Project delays and planned/unplanned outages could serve as margin tailwinds for the...
Key Points Periods of extreme MDI demand weakness, similar to the last two years, typically followed by strong demand rebounds Project delays and planned/unplanned outages could serve as margin tailwinds for the...