February 21, 2024 08:57 GMT
Glencore FY23: Disappointment Contained to Equity
BASIC INDUSTRIES
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- Neutral for spreads. Equity lower on net income miss, lower dividend, no buyback.
- Revenue beat consensus by 1%. Adj. EBITDA missed consensus by -1%, down -50% YoY after an exceptional 2022 number.
- Net debt €4.92bn, 11% higher than expected.
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