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Investing.com -- Shares of Akzo Nobel (OTC:AKZOY) (EURONEXT:AKZA) dropped 5% today following the company’s fourth-quarter earnings report, which revealed an adjusted EBITDA slightly below consensus estimates and higher net debt than expected.
The paint and coatings company reported a 2.6% increase in adjusted EBITDA year-over-year (YoY) to €321 million, which was -0.7% below Visible Alpha consensus and slightly below company consensus of €323 million.
The company’s performance coatings exceeded expectations, while its decorative segment showed weaker results. Free cash flow (FCF) for the quarter came in at €284 million, falling short of the €374 million consensus.
Akzo Nobel’s net debt increased to €3,901 million, surpassing the Bloomberg consensus of €3,794 million. Adjusted earnings per share (EPS) for the third quarter were reported at €0.56, significantly lower than the Visible Alpha consensus of €0.79 per share.
Looking ahead, Akzo Nobel provided fiscal year 2025 guidance that aligns with analyst expectations, projecting an EBITDA greater than €1.55 billion compared to the Visible Alpha consensus of €1.58 billion. This forecast is based on anticipated flat to low single-digit volume growth.
Morgan Stanley (NYSE:MS) commented on the results, stating, "An in-line set of numbers and an FY25 guide that should help to clear the air around FY25 cons expectations."
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