Platform Specialty Products (PAH) Stock Falls Following Earnings Miss
NEW YORK (TheStreet) -- Shares of Platform Specialty Products (PAH) - Get Report are down by 4.02% to $11.21 in afternoon trading on Wednesday, after the company reported its 2015 third quarter earnings results yesterday afternoon.
The specialty chemical products producer reported third quarter earnings of 6 cents per share, 4 cents below analysts' consensus 10 cents per share estimates.
Revenue for the period was $597 million versus analysts' $582 million expectations for the most recent quarter.
"Platform had a solid quarter in light of continued economic and currency headwinds. We are reaffirming our guidance for 2015 adjusted EBITDA," said CFO Sanjiv Khattri.
Separately, TheStreet Ratings team rates PLATFORM SPECIALTY PRODUCTS as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
We rate PLATFORM SPECIALTY PRODUCTS (PAH) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been generally deteriorating net income.
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