Clariant Misses Profit Forecast on Conflict Impact
Clariant reported a lower-than-expected quarterly core profit as the Middle East conflict continued to impact its Catalysts business. Adjusted earnings fell 6.5 percent to 151.5 million Swiss francs. The company maintained its full-year outlook.
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Clariant AG posted a lower quarterly core profit of 151.5 million Swiss francs ($185 million) on Tuesday morning, sending its shares down 2%. The Swiss specialty chemicals maker missed analyst forecasts due to ongoing volume disruptions in its Catalysts business. The company remains vulnerable to regional conflict because the Middle East generates 10% of its total revenue.
