Yara’s Q1 profit miss on weaker prices sends shares down

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Yara’s Q1 profit miss on weaker prices sends shares down

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Yara’s Q1 profit miss on weaker prices sends shares down

REFILE-BUZZ-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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