Fluidra collapses after surprising the market with a cut in its earnings estimate
The Spanish stock market is again extremely cautious ahead of the start of a season of results that, although analysts generally view it as positive, has already left the first signs of weakness in the accounts of some listed companies.
Fluidra surprised this Wednesday with a cut in its full-year earnings estimate, given the impact of economic uncertainty amid the inflationary crisis and the blow to the company’s business from the supply chain shutdown.
“Market conditions were weaker than expected during the third quarter, impacted in the near term by a larger-than-expected inventory correction in the channel, in a more uncertain macroeconomic environment,” the manufacturer said in a statement. pools, which now expects its third-quarter turnover to reach EUR 520 million and reach EUR 2,400 million in the year, which is lower than expected.
The company’s titles, which will present its final accounts on October 28, fall 14.8% at the close and extend its collapse to 63% by 2022.
Against this backdrop, investors remain cautious as the Ibex-35 lost 0.3% at the end of the session, below 7,600 points. After Fluidra, the largest decreases were for PharmaMar (-4.38%), Solaria (-3.32%), Cellnex (-3.28%), Grifols (-3.03%) and Colonial (-2.94% ).
Meanwhile, in the commodities market, oil is gaining ground with a Brent-type barrel, a benchmark in Europe, trading above $90, while the US West Texas surges above $83.
In the US, President Joe Biden announced that the Department of Energy will release 15 million barrels from the country’s Strategic Petroleum Reserve (SPR) this Wednesday with a view to delivering it in December. The measure is intended to strengthen energy security, address supply shortages and reduce costs.
Source: La Verdad
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