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BASIC INDUSTRIES: Dow (Baa1/BBB/BBB+): 2Q24 Results

BASIC INDUSTRIES

No presentation out yet, light on detail for now but looks marginally credit negative.

  • Revenue missed consensus by 1%. While volumes increased slightly prices were 4% lower.
  • Adj. EBITDA lands 5% below expectations with a slight miss on margins.
  • FCF was light at $161mn vs $442mn expected. 
  • Macro environment remains slow. Demand in many markets is growing, but construction and consumer durables are seen as unlikely to significantly pick up this year.
  • Webcast 13.00 BST https://events.q4inc.com/attendee/672354671

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