Venator Materials 将来の成長
Future 基準チェック /06
現在、 Venator Materialsの成長と収益を予測するのに十分なアナリストの調査がありません。
主要情報
n/a
収益成長率
n/a
EPS成長率
| Chemicals 収益成長 | 17.2% |
| 収益成長率 | n/a |
| 将来の株主資本利益率 | n/a |
| アナリストカバレッジ | None |
| 最終更新日 | n/a |
今後の成長に関する最新情報
Recent updates
Seeking Alpha • Feb 20
Venator Materials Q4 2022 Earnings Preview
Venator Materials (NYSE:VNTR) is scheduled to announce Q4 earnings results on Tuesday, February 21st, before market open. The consensus EPS Estimate is -$0.54 (-980.0% Y/Y) and the consensus Revenue Estimate is $374.7M (-30.0% Y/Y). Over the last 2 years, VNTR has beaten EPS estimates 38% of the time and has beaten revenue estimates 50% of the time. Over the last 3 months, EPS estimates have seen 0 upward revisions and 4 downward. Revenue estimates have seen 1 upward revision and 3 downward.Seeking Alpha • Jan 20
Venator Materials says Q4 performance significantly below market expectations
Venator Materials (NYSE:VNTR) said it expects Q4 performance to be significantly below current market expectations, with estimated adjusted EBITDA in the range of -$57M to -$62M. The company provided an update on its Q4 financial results and strategic review, in addition to the appointment of board directors. VNTR said it continued to experience challenging macro-economic conditions in Q4, including low consumer confidence, weak demand, record high energy prices and other inflationary costs. Q4 TiO2 sales volumes are expected to be ~28% lower Q/Q and ~44% Y/Y. The company's estimated total liquidity was ~$275M as of Dec. 31. It has taken actions that include implementing a $50M cost reduction program, closing a sale-leaseback transaction for a Color Pigments manufacturing site for $51M and entering into a definitive agreement to divest the iron oxide business from within the Color Pigments business to Cathay Industries for an enterprise value of $140M. Separately, Venator has appointed Moelis & Company and Kirkland & Ellis, along with the business and operational advisor Alvarez & Marsal, to assist with a strategic review and engagement with stakeholders. The company has appointed new independent directors, Stefan Selig and Jame Donath, after the resignation of Miguel Kohlmann. Selig will serve as the board chairman, replacing Barry Siadat who steps down as chairman and remains a board member. The company plans to engage with key stakeholders over its capital structure, commencing immediately. The company said it continues to evaluate all options to drive value for all its stakeholders. Source: Press ReleaseSeeking Alpha • Dec 22
Venator Materials: More Pain Ahead But Too Risky To Short
Summary The company closed Q3 2022 with an attributable net loss of $50 million as higher average selling prices couldn't compensate for weak demand in the titanium dioxide segment. Demand weakness continued into the fourth quarter in Europe and APAC, and Venator Materials is starting to see some softening in North America too. The company has started selling assets and has a cost-cutting plan in place, but significant stock dilution or bankruptcy in the next two years is starting to look likely. I think it could be best for risk-averse investors to avoid this stock. Introduction I've written about titanium dioxide producer Venator Materials (VNTR) two times on SA so far, the latest of which was in September. Back then, I said that energy prices in Europe were rising and that the company was likely to struggle to pass on further cost increases to its customers as titanium dioxide prices in China had been falling rapidly since July. Well, the company closed Q3 2022 with an attributable net loss of $50 million and the balance sheet looks ugly even after two deals involving its color pigments division worth $191 million. In my view, Q4 financial results are likely to be even more underwhelming than the ones for Q3, and liquidity is running out. The company could be heading either to significant stock dilution or bankruptcy in the next two years. Let's review. Overview of the Q3 2022 financial results In case you haven't read any of my previous articles about Venator Materials, here's a quick description of the business. The company is based in the UK and in 2017 it was separated from Huntsman Corp. (HUN), thus becoming public through a $454 million initial public offering ((IPO)). Its portfolio includes a total of 7 titanium dioxide production plants and 13 manufacturing and processing facilities focused on functional additives, color pigments, and timber treatment chemicals (these operations make up its performance additives segment). Venator Materials employs about 3,500 people and sells its products in over 110 countries worldwide. The titanium dioxide segment is focused on Europe and usually accounts for about three-quarters of revenues. Titanium dioxide is used primarily as a vivid colorant and across the EU, it's a popular ingredient in paints, plastics, paper, pharmaceuticals, sunscreen, and food products. The issue here is that chemical companies are sensitive to energy prices and the war in Ukraine has put Venator Materials in a tough spot. The company was already being pressured by Chinese competitors before the war, finishing every year since 2018 with a net loss. The LTM result is positive, but this is mainly due to an $85 million settlement with Tronox (TROX). This lawsuit was over a break fee contained in an exclusivity agreement from July 2018 relating to Venator's merger with Cristal. As you can see from the table below, the titanium dioxide business is in serious trouble as its EBITDA slipped into the red in Q3 2022. Venator Materials In Q3, the average selling prices in the titanium dioxide segment increased by 19% year on year and 1% quarter on quarter in local currency but sales volumes slumped by 29% year on year and 25% quarter on quarter due to low demand, primarily in Europe and APAC. With COGS rising significantly due to higher energy, raw materials, and shipping expenses, EBITDA was minus $5 million. The performance additives segment fared better thanks to a 31% year on year increase in average selling prices, but this was not enough to offset the loss coming from the titanium dioxide business as sales volumes decreased by 8% year on year due to soft demand in Europe and APAC. Venator Materials With no end in sight for the war in Ukraine, energy prices in Europe are likely to remain high in the foreseeable future which puts the financial results of Venator Materials under severe pressure. In addition, the company said during its Q3 2022 earnings call that demand weakness continued into the fourth quarter in Europe and APAC and that it's starting to see some softening in North America as well. It seems that Q4 results are likely to be even more underwhelming. To counter this, Venator Materials is reducing its 2022 CAPEX by $20 million to $70 million and is implementing a $30 million cost reduction program that is expected to deliver $50 million of annualized savings by the end of 2024. Venator Materials In addition, Venator Materials announced in October that it closed a $51.3 million sale-leaseback for its color pigments manufacturing facility in California. According to the Q3 financial report, the company received proceeds of $42 million, net of $9 million of taxes and other expenses (see page 9 here). Just over a month later, Venator Materials revealed that it's selling its iron oxide business at an enterprise value of $140 million. This operation forms part of the performance additives segment and considering its average annual EBITDA in 2020 and 2021 adjusted for the impact of the sale-leaseback deal was $16 million, I think Venator Materials is getting a good price here. The deal should be closed at the end of March, but I think that the asset disposals are too small to help Venator Materials avoid major stock dilution or bankruptcy in the coming years. You see, net debt rose to $926 million in September, with a term loan facility in an aggregate principal amount of $375 million maturing in August 2024. While shareholders' equity was $420 million, I think it's likely that the company's business is worth much lower than its book value in this challenging market environment. For example, even the sales of the profitable iron oxide business and the California facility are expected to result in a pre-tax loss of $35 million to $45 million in Q4 (see page 9). Venator Materials分析記事 • Dec 17
Capital Allocation Trends At Venator Materials (NYSE:VNTR) Aren't Ideal
To avoid investing in a business that's in decline, there's a few financial metrics that can provide early indications...Seeking Alpha • Dec 07
Venator automates carbon footprint with Atos
Venator (NYSE:VNTR) is working with Atos, global leader in digital transformation – to measure the carbon footprint of its products. As Venator increases its focus on sustainability across its operations, this strategic project will enable the business to deliver data on the carbon footprint of its products to its customers and accelerate its sustainability ambitions. "Our collaboration has shown that Venator is in a very good position to build an automated PCF with their excellent data and ERP process foundation. With this pilot project, Venator will be able to have a clear, transparent and comparable PCF for the products in scope. They will also be able to gain valuable insights into internal and external supply chain dependencies, supported by the graph visualization, which can help them in developing sustainability commitments which span the entire supply chain." said Stuart Lemmon, Head of Net Zero Transformation Practice, at Atos.Seeking Alpha • Nov 13
Venator Materials Q3 2022 Earnings Preview
Venator Materials (NYSE:VNTR) is scheduled to announce Q3 earnings results on Monday, November 14th, before market open. The consensus EPS Estimate is -$0.03 ( vs. $0.03 in 3Q21) and the consensus Revenue Estimate is $565.71M (+1.6% Y/Y). Over the last 2 years, VNTR has beaten EPS estimates 50% of the time and has beaten revenue estimates 75% of the time. Over the last 3 months, EPS estimates have seen 0 upward revisions and 6 downward. Revenue estimates have seen 0 upward revisions and 5 downward.Seeking Alpha • Nov 04
Venator gets listing deficiency letter from NYSE
Venator Materials (NYSE:VNTR) on Friday said it got notice from the NYSE saying it is no longer in compliance with a certain listing rule. NYSE notified VNTR that its average closing price of ordinary shares was less than $1.00 per share over a consecutive 30 trading-day period. The notice does not result in immediate delisting of VNTR ordinary shares from NYSE. VNTR plans to notify NYSE by Nov 16, 2022, that it intends to cure the stock price deficiency and return to compliance with listing standards. VNTR intends to consider available alternatives, including but not limited to a reverse stock split that is subject to shareholder approval, no later than next Annual General Meeting.分析記事 • Oct 25
Should You Think About Buying Venator Materials PLC (NYSE:VNTR) Now?
Venator Materials PLC ( NYSE:VNTR ), is not the largest company out there, but it saw a decent share price growth in...Seeking Alpha • Oct 10
Venator Materials announces $51.3M sale-leaseback deal for Los Angeles facility
Venator Materials (NYSE:VNTR) said Monday its U.S. affiliate closed a sale-leaseback deal for its Color Pigments manufacturing facility in Los Angeles with New Mountain Net Lease for $51.3M. VNTR entered into an agreement to lease the property from New Mountain for 15 years, with an option to extend the lease for two additional terms of ~10 years each. The annual lease cost will be $3.4M in the first year, with an initial corresponding cap rate of 6.7%. VNTR last week warned of weak TiO2 sales in Europe and Asia in Q3.Seeking Alpha • Sep 29
Venator Materials Could Struggle To Pass On Cost Increases To Its Clients
Summary Venator Materials booked an adjusted net income of $14 million in Q2 2022 as average selling prices at its titanium dioxide business rose by 31% year on year. However, titanium dioxide prices in China have declined significantly over the past few months and Venator Materials could face significant pricing pressure in Europe soon. Meanwhile, energy prices in Europe keep rising as the Russian invasion of Ukraine is still escalating. In my view, the company’s adjusted net income could be back in the red by Q4 2022. Introduction In June, I wrote a bearish article on SA about titanium dioxide producer Venator Materials (TROX) in which I said that a $85 million settlement with Tronox Holdings (TROX) seemed priced in and that the company was starting to look overvalued as its business hasn't been doing well over the past few years. Well, Venator Materials booked solid Q2 2022 as it managed to pass on cost inflation to its customers thanks to a strong titanium dioxide market. The company is in the black once again as the adjusted net income came in at $14 million. However, energy prices in Europe have been rising over the past few months due to the escalating conflict in Ukraine and I think that Venator is likely to struggle to pass on further cost increases to its customers as titanium dioxide prices in China have been falling rapidly since July. Let’s review. Overview of the recent developments In case you haven’t read my previous article about Venator Materials, here’s a short description of the business. The company operates seven titanium dioxide manufacturing facilities and a performance additives business focused functional additives, color pigments, and timber treatment chemicals that includes another 13 manufacturing and processing facilities worldwide. About three-quarters of the revenues and EBITDA of Venator Materials come from the titanium dioxide business and the company is focused on the European market. Venator Materials Venator Materials has been in the red over the past several years, but this changed in 2022 as the adjusted net income came in at $14 million and $6 million in Q2 and Q1, respectively. Venator Materials Venator Materials So, how did Venator achieve this turnaround? Well, there have been cost pressures from higher prices for feedstocks, and energy in 2022 due to supply chain issues and the situation in Europe is made worse due to the conflict in Ukraine. To mitigate this, Venator Materials decided to manage its margins by switching to monthly customer tailored price reviews and this has been working well so far thanks to strong titanium dioxide prices as demand has been strong in North America. In Q2 2022, the average selling prices of the company's titanium dioxide business rose by 7% quarter on quarter and 31% year on year which helped it improve its EBITDA despite a lower production volume due to issues with the Scarlino facility in Italy. Venator Materials In Q2 2022, production at the Scarlino plant was reduced by a third as there is limited landfill capacity. The facility generates gypsum as a byproduct and Venator Materials is currently working with governmental authorities for the authorization of continued gypsum disposal. However, it seems that there has been little progress on this issue and the company revealed at its Q2 earnings call that it has now suspended two-thirds of titanium dioxide production there to preserve its remaining available landfill capacity. Unless there is a resolution of this issue soon, the Scarlino plant could be closed for good in the near future. What’s even worse news for Venator Materials is that the company could soon face significant pricing pressure in Europe as titanium dioxide prices in China have been falling fast over the past few months. This should incentivize Chinese competitors to increase exports. Business Analytiq Meanwhile, energy prices in Europe keep rising as the Russian invasion of Ukraine is still escalating. The latest major event includes leaks from two Russia-to-Germany pipelines under the Baltic Sea and this decreases the chance of European gas prices returning to normal levels anytime soon. Trading Economics You just can’t have a competitive chemical industry without low energy prices, and it seems that the margins of Venator Materials could decline significantly in the near future. Looking at the Q3 results expectations, BMO Capital recently reduced its EPS forecast to $0.02 from $0.05. It seems that the company's return to profitability could be short-lived. Turning our attention to the balance sheet, I think the situation doesn’t look good either. The net debt to equity ratio was 1.5x as of June as free cash flow for the quarter came in at just $58 million despite Venator Materials receiving the $85 million from the settlement from Tronox. Primary working capital was $54 million cash use due to timing of feedstock shipments and higher costs, and the company expects its cash use for the full year to be above $30 million. Considering that CAPEX for H2 2022 is expected to be around $60 million, the situation looks grim. Venator Materials Overall, I’m bearish but I think that short selling could be dangerous as the market valuation is down to $113 million as of the time of writing and sometimes the share prices of microcap companies can increase for spurious and unknown reasons. In addition, Venator Materials is currently trading at below 0.2x book value. In my view, risk-averse investors should avoid this stock.分析記事 • Sep 17
The Return Trends At Venator Materials (NYSE:VNTR) Look Promising
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Amongst other things...Seeking Alpha • Jul 26
Venator Materials Non-GAAP EPS of $0.13 beats by $0.04, revenue of $642M misses by $41.4M
Venator Materials press release (NYSE:VNTR): Q2 Non-GAAP EPS of $0.13 beats by $0.04. Revenue of $642M (+13.2% Y/Y) misses by $41.4M. Net income attributable to Venator of $93 million compared to net loss of $23 million in the prior year period. Adjusted EBITDA of $61 million compared to $43 million in the prior year period. Net cash provided by operating activities of $73 million and free cash flow of $58 million. Received $85 million cash in settlement with Tronox on April 25, 2022, which has been excluded from adjusted EBITDA.Seeking Alpha • Jun 03
Venator Materials: $85 Million Settlement Looks Priced In And I'm Bearish
In April, the company received $85 million in cash as part of a settlement with Tronox, but its market valuation has increased by $82 million since then. Titanium dioxide prices have increased significantly over the past several months, but 2022 could be another bad year for Venator due to high energy costs and supply chain issues. I think the share price of Venator is likely to return below $2.00 by the end of the year. I’m bearish and the short borrow fee rate stands at just 0.41% as of the time of writing.分析記事 • Jun 02
These 4 Measures Indicate That Venator Materials (NYSE:VNTR) Is Using Debt In A Risky Way
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...分析記事 • May 12
Investors Will Want Venator Materials' (NYSE:VNTR) Growth In ROCE To Persist
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...分析記事 • Feb 23
Venator Materials (NYSE:VNTR) Seems To Be Using A Lot Of Debt
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...分析記事 • Dec 01
The Return Trends At Venator Materials (NYSE:VNTR) Look Promising
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? In a perfect world...分析記事 • Sep 21
Health Check: How Prudently Does Venator Materials (NYSE:VNTR) Use Debt?
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...分析記事 • Jun 04
We Discuss Why Venator Materials PLC's (NYSE:VNTR) CEO Compensation May Be Closely Reviewed
The results at Venator Materials PLC ( NYSE:VNTR ) have been quite disappointing recently and CEO Simon Turner bears...分析記事 • Apr 14
Is Venator Materials (NYSE:VNTR) Using Debt In A Risky Way?
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...分析記事 • Mar 16
Can You Imagine How Jubilant Venator Materials' (NYSE:VNTR) Shareholders Feel About Its 155% Share Price Gain?
When you buy shares in a company, there is always a risk that the price drops to zero. But if you pick the right...このセクションでは通常、投資家が会社の利益創出能力を理解する一助となるよう、プロのアナリストのコンセンサス予想に基づく収益と利益の成長予測を提示する。しかし、Venator Materials は十分な過去のデータを提供しておらず、アナリストの予測もないため、過去のデータを外挿したり、アナリストの予測を使用しても、その将来の収益を確実に算出することはできません。
シンプリー・ウォール・ストリートがカバーする企業の97%は過去の財務データを持っているため、これはかなり稀な状況です。
業績と収益の成長予測
| 日付 | 収益 | 収益 | フリー・キャッシュフロー | 営業活動によるキャッシュ | 平均アナリスト数 |
|---|---|---|---|---|---|
| 12/31/2023 | 1,556 | 198 | -526 | -469 | N/A |
| 3/31/2023 | 1,952 | -355 | -217 | -148 | N/A |
| 12/31/2022 | 2,173 | -803 | -183 | -114 | N/A |
| 9/30/2022 | 2,342 | 54 | -144 | -70 | N/A |
| 6/30/2022 | 2,393 | 57 | -67 | 11 | N/A |
| 3/31/2022 | 2,318 | -59 | -130 | -52 | N/A |
| 12/31/2021 | 2,212 | -77 | -54 | 19 | N/A |
| 9/30/2021 | 2,153 | -149 | -26 | 36 | N/A |
| 6/30/2021 | 2,070 | -144 | N/A | 49 | N/A |
| 3/31/2021 | 1,959 | -140 | 27 | 77 | N/A |
| 12/31/2020 | 1,938 | -112 | -35 | 34 | N/A |
| 9/30/2020 | 1,926 | -228 | -27 | 69 | N/A |
| 6/30/2020 | 1,978 | -205 | -53 | 63 | N/A |
| 3/31/2020 | 2,100 | -165 | -127 | 4 | N/A |
| 12/31/2019 | 2,130 | -175 | -119 | 33 | N/A |
| 9/30/2019 | 2,150 | -70 | -224 | -60 | N/A |
| 6/30/2019 | 2,157 | -419 | -315 | -73 | N/A |
| 3/31/2019 | 2,205 | -244 | -103 | 202 | N/A |
| 12/31/2018 | 2,265 | -163 | -44 | 282 | N/A |
| 9/30/2018 | 2,309 | -26 | 91 | 463 | N/A |
| 6/30/2018 | 2,358 | 393 | 348 | 672 | N/A |
| 3/31/2018 | 2,294 | 228 | 116 | 367 | N/A |
| 12/31/2017 | 2,209 | 126 | 141 | 338 | N/A |
| 9/30/2017 | 2,172 | 52 | N/A | 185 | N/A |
| 6/30/2017 | 2,122 | -6 | N/A | 35 | N/A |
| 3/31/2017 | 2,136 | -64 | N/A | 166 | N/A |
| 12/31/2016 | 2,139 | -95 | N/A | 97 | N/A |
| 12/31/2015 | 2,162 | -369 | N/A | -63 | N/A |
アナリストによる今後の成長予測
収入対貯蓄率: VNTR.Fの予測収益成長が 貯蓄率 ( 3.5% ) を上回っているかどうかを判断するにはデータが不十分です。
収益対市場: VNTR.Fの収益がUS市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です
高成長収益: VNTR.Fの収益が今後 3 年間で 大幅に 増加すると予想されるかどうかを判断するにはデータが不十分です。
収益対市場: VNTR.Fの収益がUS市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。
高い収益成長: VNTR.Fの収益が年間20%よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。
一株当たり利益成長率予想
将来の株主資本利益率
将来のROE: VNTR.Fの 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です
成長企業の発掘
企業分析と財務データの現状
| データ | 最終更新日（UTC時間） |
|---|---|
| 企業分析 | 2026/05/25 10:11 |
| 終値 | 2026/04/01 00:00 |
| 収益 | 2023/12/31 |
| 年間収益 | 2023/12/31 |
データソース
企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。
| パッケージ | データ | タイムフレーム | 米国ソース例 |
|---|---|---|---|
| 会社財務 | 10年 |
| |
| アナリストのコンセンサス予想 | +プラス3年 |
|
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| 市場価格 | 30年 |
| |
| 所有権 | 10年 |
| |
| マネジメント | 10年 |
| |
| 主な進展 | 10年 |
|
* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。
特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。
分析モデルとスノーフレーク
本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。
シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。
業界およびセクターの指標
私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。
アナリスト筋
Venator Materials PLC 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。13
| アナリスト | 機関 |
|---|---|
| John McNulty | BMO Capital Markets Equity Research |
| Matthew DeYoe | BofA Global Research |
| Prashant Juvekar | Citigroup Inc |