Anglo American's Cost Performance in Focus at Consensus-Beating Results -- Earnings Review
20 February 2020 - 9:49PM
Dow Jones News
By Adriano Marchese
Anglo American PLC reported its results for 2019 on Thursday.
Here's what you need to know:
NET PROFIT: The company made a profit of $3.55 billion in 2019,
and though it remained unchanged from the prior year, it beat the
consensus estimate of $3.42 billion, which was compiled from the
forecasts of 14 analysts on FactSet.
UNDERLYING EBITDA: Underlying earnings before interest, taxes,
depreciation and amortization--Anglo American's preferred metric,
which strips out certain one-off items--beat both consensus
forecast and last year's figures with a rise of 9.2% to $10.01
billion. Consensus had this figure pegged at $9.84 billion,
compiled from 19 analysts' forecast on FactSet.
REVENUE: Revenue for the year rose 8.2% to $29.87 billion.
Consensus for revenue was $29.29 billion, taken from FactSet based
on the forecasts of 17 analysts.
WHAT WE WATCHED:
-COST PERFORMANCE: Strong costs performance helped deliver
better Ebitda, says Citi. Anglo delivered strong cost performance
with units costs lower than its guidance for copper, nickel, PGMs
and Minas Rio, the bank added.
-TRADE WITH CHINA: Anglo American's chief executive says the
coronavirus epidemic will be a short-term issue for the diversified
mining company. "We are less reliant on China than our major
competitors," Mark Cutifani says.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
February 20, 2020 05:34 ET (10:34 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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