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Evonik Q3 core profit misses estimates, sees earnings at upper end of guidance - Finance news and analysis from Global Banking & Finance Review
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Evonik Q3 core profit misses estimates, sees earnings at upper end of guidance

Published by Global Banking & Finance Review

Posted on November 3, 2026

2 min read

· Last updated: November 3, 2026

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Evonik Q3 Earnings Below Estimates, Sees 2023 Profit at Top of Guidance

Evonik's Third-Quarter Financial Performance and Outlook

By Anastasiia Kozlova and Matthias Inverardi

Q3 Core Profit Results

Nov 3 (Reuters) - German chemicals group Evonik posted third-quarter core profit slightly below analyst estimates on Tuesday, but said it expects full-year profitability to come in at the upper end of its guidance range despite weak economic growth and geopolitical tensions.

EBITDA Performance Compared to Analyst Consensus

Evonik's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 40% year-on-year to €629 million ($703.85 million), but came in just below the €633.2 million analyst consensus compiled by Vara Research.

Guidance and Future Expectations

2026 Guidance and Q4 Profit Outlook

The Essen-based company reiterated its 2026 guidance raised in June, with earnings expected in the upper end of the range, and said fourth-quarter profit should exceed last year's level.

CEO Statement on Outlook

"We are even more optimistic about our outlook. Dragons fly highest in headwinds," interim CEO Claus Rettig, who is leading Evonik on a temporary basis after CEO Christian Kullmann stepped down in August due to illness, said in a statement.

Restructuring and Strategic Moves

Cost-Cutting Programme and Job Cuts

Evonik booked €313 million in third-quarter restructuring provisions after extending its cost-cutting programme through 2029 in June, a move that will result in 3,200 job cuts worldwide between 2027 and 2029.

Planned Divestitures

The company expects to name a buyer for its Oxeno C4 chemicals business in the coming months and is preparing a potential sale of Syneqt.

Additional Information

($1 = 0.8937 euros)

(Reporting by Anastasiia Kozlova and Matthias Inverardi; editing by Matt Scuffham)

Key Takeaways

  • Evonik reported Q3 adjusted EBITDA of €629 million ($703.9 million), up 40% year‑on‑year but just shy of the €633.2 million analyst estimate (evonik.com).
  • The company reaffirmed its full‑year 2026 EBITDA guidance, expecting profitability at the upper end despite weak economic growth and geopolitical tensions (evonik.com).
  • Q4 is expected to outperform Q3 and exceed last year’s profit levels, while a restructuring program—adding €313 million in Q3 provisions—will see 3,200 job cuts through 2029; divestitures of Oxeno and Syneqt remain on track (evonik.com).

References

Frequently Asked Questions

Did Evonik meet analyst expectations for Q3 core profit?
Evonik's Q3 core profit was slightly below analyst estimates, with adjusted EBITDA at €629 million versus a €633.2 million consensus.
What is Evonik's outlook for full-year profitability?
Evonik expects its 2023 earnings to be at the upper end of its guidance range, despite challenging economic conditions.
What restructuring actions is Evonik taking?
Evonik booked €313 million in restructuring provisions and plans to cut 3,200 jobs worldwide between 2027 and 2029.
Are there any planned business sales by Evonik?
Evonik expects to name a buyer for its Oxeno C4 chemicals business and is preparing for a possible sale of Syneqt.
Who is leading Evonik currently?
Interim CEO Claus Rettig is leading Evonik temporarily after CEO Christian Kullmann stepped down in August due to illness.

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