(Reuters) -German chemicals maker Covestro cut its full-year outlook for a second time on Friday, citing a continuously weak global economy without signs of a short-term recovery.
The company now sees its 2025 earnings before interest, taxes, depreciation and amortization (EBITDA) within a range of 700 million to 1.1 billion euros ($818.65 million-1.29 billion), down from a previously expected 1-1.4 billion euros.
Covestro already cut its guidance in May, as higher U.S. tariffs threaten to erode the chemical maker’s earnings.
In the second quarter, Covestro’s EBITDA reached 270 million million euros, above a consensus forecast for 220 million euros, according to a poll by Vara research.
Covestro’s full second-quarter results are due on July 31.
($1 = 0.8551 euros)
(Reporting by Tristan Veyet in Gdansk, Editing by Miranda Murray and Rachel More)
