Neste is now expecting a comparable sales margin of USD 480-650 per ton for renewable products, instead of the previous USD 600-800. The decline in the general index of the Helsinki Stock Exchange had stopped by the afternoon, quoted down 0.1 percent at 10,360 points. Today, investors are focused on the US inflation figures for April, which will be announced at 15:30 Finnish time.
According to Neste, the sales price outlook for renewables has been affected by the drop in the market price of diesel and the continued decline in the prices of biotics and biofuel proofs in the United States during the second quarter, while the prices of waste and residual raw materials have remained stable. The company now expects a comparable sales margin of $480-650 per ton for renewable products, instead of the previous $600-800.
Analysts’ consensus forecast compiled by Vara Research service had expected Neste’s renewable products to have a sales margin of $643 per ton this year. The range of forecasts was between $600-723 dollars per ton. Now there is clear downward pressure in these forecasts due to various factors such as internal problems behind them and other external factors affecting these businesses like oil refineries Invesco warning about its result last night which also caused dismay among investors as it was not meeting their expectations.
Forestry company Stora Enso raised its profit guidance today and expects full-year 2024 adjusted operating profit to be significantly higher than 2023. A few result announcements were heard in
