XTRA:LXSChemicals
LANXESS (XTRA:LXS) Stock Recovery Case Hinges On Losses And Utilization
LANXESS went into this earnings day priced like a problem stock. The share price closed at €16.43, roughly flat over the past week and down about 11% over three months, even with a small rebound over the last month. The market has been treating the chemicals group as a restructuring story with weak profitability.
The headline from Q2 is simple. LANXESS is still loss making, with a basic loss per share of €0.62, but the company lifted revenue to €1,561m and cut the quarterly net loss to €53m...