October 18, 2019 / 6:25 AM / a month ago

Yara launches share buy-backs after third-quarter earnings in line

FILE PHOTO: A general view of the Yara ammonia plant in Porsgrunn, Norway August 9, 2017. REUTERS/Lefteris Karagiannopoulos/File Photo

OSLO (Reuters) - Norway’s Yara (YAR.OL), one of the world’s largest fertilizer-makers, said it was starting a share buy-back program after reporting quarterly earnings that were broadly in line with forecasts on Friday.

Yara’s second-quarter profit before interest, tax, depreciation and amortization (EBITDA) rose 49% to $630 million before non-recurring items and IFRS 16 effects, while analysts in a Refinitiv poll on average had expected $623 million.

Yara said it expects spot prices for natural gas, its main cost, to be $160 million lower than a year earlier in the fourth and, and $50 million lower in the first quarter of next year compared to a year earlier.

Reporting by Victoria Klesty, editing by Terje Solsvik

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