2023-10-26 03:59:17 ET
- Orbia Advance Corporation, S.A.B. de C.V. press release ( OTCPK:MXCHY ): Q3 operating cash flow of $218 million decreased by $7 million, driven by lower EBITDA.
- Revenue of $1.98B (-13.5% Y/Y) misses by $200M .
- Net debt of $3,380 million was comprised of total debt of $4,866 million, less cash and cash equivalents of $1,486 million.
- The company’s net debt-to-EBITDA ratio increased from 2.14x at the end of the second quarter 2023 to 2.19x at the end of the third quarter of 2023.
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2023 Outlook: Orbia is continuing to proceed cautiously as it enters the last quarter of 2023 given the weak demand and pricing environment. The Company is focused on revenue generation, commercial and operational excellence and fiscal discipline. Its updated guidance now reflects a mid-teens percentage decline in revenue year-over-year and EBITDA of approximately $1.45 billion for 2023. Orbia also continues to expect a tax rate between 44% and 47%, and capital expenditures of approximately $600 million.
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Orbia Advance Corporation, S.A.B. de C.V. reports Q3 results; updates FY23 guidance