The provided guidance on the 15th June 2021 to be in the range of $330M to $390M, which if you work backwards of the 1st half EBITDA of $81M, Q3 EBITDA of $101M, then Q4 EBITDA has to be is in the range of $148M to $208M.
It is to be noted that the date of the market update on the 15th June, the spot price was ~US$125 a tonne, with it gradually increasing to current levels around ~US$150 a tonne. In addition the currency has fallen from 77 cents to around 74 cents, which will further benefit the stock.
Given that, I expect the EBITDA to be at the upper end of the range or even exceeding the $208M for Q4
Next year will be cracker at this run rate
NHC Price at posting:
$1.89 Sentiment: Buy Disclosure: Held
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