Glencore (GB:GLEN) has released an update.
Glencore maintains 2024 production guidance while reporting a 33% decrease in Adjusted EBITDA to $6.3 billion, amid lower average commodity prices, particularly for thermal coal. The company’s strategic decision to retain its coal and carbon steel materials business is expected to bolster cash generation for future shareholder returns. Despite challenges, Glencore’s diversified business model and strong cash flow position it to navigate market uncertainty and focus on long-term stakeholder value.
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