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Nissan Chemical's stock price surged 17% after strong Q3 performance
Investing.com – Nissan Chemical’s stock price rose 17% on Tuesday after the company reported third-quarter operating profit that exceeded analyst expectations.
The company announced a third-quarter operating profit of ¥15.4 billion, surpassing the consensus estimate of ¥13.1 billion. For the first three quarters combined, Nissan Chemical achieved an operating profit of ¥45 billion, exceeding its own guidance of ¥41.6 billion by ¥3.4 billion.
The strong performance was mainly driven by the company’s performance materials division, particularly semiconductor-related materials, which helped offset challenges faced by display materials due to unfavorable product mix.
The agrochemical division also contributed positively to the results, benefiting from domestic rice herbicides and European pesticide products.
Despite the better-than-expected performance through the third quarter, Nissan Chemical maintained its full-year operating profit guidance at ¥59 billion. This unchanged forecast implies an operating profit of ¥14 billion in the fourth quarter, below the current analyst consensus of ¥17.6 billion.
The fourth quarter typically shows stronger quarter-over-quarter growth due to seasonal factors in the spring pesticide business.
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