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Reuters
Yara’s Q1 profit miss on weaker prices sends shares down
Refiles to say among worst performers on STOXX, not the worst performer in the last bullet
** Yara’s YAR.OL 15% EBITDA miss on consensus sends shares falling over 6%
** The Norwegian fertiliser maker posted Q1 EBITDA of $435 mln, while company-provided consensus saw $509 mln
** The miss was driven by weaker prices, which the company said offset the increased deliveries
** “This is a weak print even on low expectations” – says J.P. Morgan
** The broker adds that this significant miss vs. expectations and also a significant YoY decline (on a very weak 1Q23 base) is despite a strong recovery in deliveries, as pricing pressure has more than offset volume benefit and the reversal of significant one-offs in 1Q23
** The stock is among worst performers on the STOXX 600 index .STOXX
Reporting by Agata Rybska
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