December 3, 2018 / 12:30 PM / 9 days ago

BRIEF-Glencore Revises 2018 Marketing Adj EBIT Guidance To $2.7 Bln ± $100 Mln

Dec 3 (Reuters) - Glencore Plc:

* TRADE/CHINA/MACRO FEARS HAVE IMPACTED FINANCIAL SENTIMENT

* SECTOR REINVESTMENT REMAINS LIMITED, DEMAND IS SOLID, INVENTORIES ARE LOW AND LIKELY TO FALL FURTHER

* 2019 EQUITY CASH FLOWS, POST BASE DISTRIBUTION, CURRENTLY PRIORITIZED FOR BUYBACKS/DELEVERAGING

* IN 2019 CONTINUED INVENTORY DRAW DOWNS ARE LIKELY

* FOR KATANGA, 2019 COBALT PRODUCTION GUIDANCE CUT BY 8KT TO 26KT TO REFLECT COBALT PLANT RAMP UP, ASSOCIATED EXPECTED SHORTERTERM RECOVERIES

* SEES GROUP COPPER PRODUCTION TO RISE 5 PERCENT BETWEEN 2018-2021

* SEES GROUP COBALT PRODUCTION TO RISE 74 PERCENT BETWEEN 2018-2021

* GLENCORE PLC SEES GROUP ZINC PRODUCTION TO RISE 28 PERCENT BETWEEN 2018-2021

* GLENCORE PLC - 2018 MARKETING ADJUSTED EBIT GUIDANCE REVISED TO $2.7BN ± $100M

* GLENCORE PLC SEES GROUP LEAD PRODUCTION TO RISE 30 PERCENT BETWEEN 2018-2021

* GLENCORE PLC SEES GROUP COAL PRODUCTION TO RISE 10 PERCENT BETWEEN 2018-2021

* GLENCORE PLC SEES 2019-2021 INDUSTRIAL TOTAL CAPEX AVERAGE OF C.$4.8 BILLION PER ANNUM

* SEES 2019 NICKEL PRODUCTION 138 KT ± 5 KT

* SEES 2019 OIL - ENTITLEMENT INTEREST PRODUCTION 6.2 MBBL ± 0.2 MBBL

* SEES 2019 COAL PRODUCTION 145 MT ± 3 MT Source text: bit.ly/2KPtkGr Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below