Firmenich rises as Q3 earnings, FY guidance slightly beat expectations
** Shares in DSM-Firmenich DSFIR.AS rise 6% after Q3 adjusted EBITDA and FY guidance slighlty beat estimates
** The newly-merged flavour producer reports adjusted EBITDA slighlty above expectations in Q3, with a core profit of 409 million euros ($434 million), against a 405 million euros expectation shown in a company-provided consensus
** The group now expects the guidance to come in at the low end of the 1.8-1.9 billion euro range, which is still slightly above the consensus of 1.78 billion euros, according to Jefferies
** "Given in line print and FY23 guide, the stock might see an outperformance today," J.P.Morgan says
** KBC notes a "disappointing short term earnings momentum" while appreciating the company's "broad ingredient portfolio and market leading positions"
** The stock tops the Amsterdam blue chip index .AEX
($1 = 0.9422 euros)
Reporting by Gaëlle Sheehan and Victor Goury-Laffont
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