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Investing.com -- ForFarmers reported better-than-expected third-quarter results, with total like-for-like volume growth of 5.6% and like-for-like growth in compound feed of 2.6%.
The company’s Q3 EBITDA reached €39 million, representing an 82% increase year-over-year, significantly exceeding analyst projections of €30 million. The strong performance drove shares up 6% following the announcement.
The robust quarterly results were attributed to several factors, including stable raw material prices and relatively high prices for animal proteins. The company also benefited from limited impact from animal diseases, strategic expansion in Poland, and the acquisition of Van Triest.
Previous restructuring measures, particularly in the UK operations, combined with effective cost control, further contributed to the positive performance.
While ForFarmers did not provide a specific outlook for upcoming quarters, market conditions are generally expected to remain favorable in Q4. Based on these results, the full-year consensus EBITDA estimate of approximately €120 million is expected to be raised by 8-12% from the current projection of €117 million.
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