Henkel: cuts 2018 earnings guidance; shares down

(CercleFinance.com) - Henkel on Thursday lowered its earnings outlook for 2018, citing currencies and raw material prices, which sent its shares down over 3%.


The German consumer goods group said it now expects adjusted EPS to increase by between 3% and 6% this year, against a previous growth forecast range of 5% and 8%.

At 5.14 million euros, second-quarter sales reached a new all-time high, up 0.9%, while organic growth, which excludes the impact of currency effects and acquisitions/divestments, reached 3.5%, driven by the adhesive technologies unit.

Adjusted operating profit (EBIT) rose 1.8% to a new high of 926 million euros in the past quarter, while adjusted EPS grew by 1.9% to 1.58 euros.

The Frankfurt-listed shares were down 3.2% at 103.7 euros after the report.

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