Daily Brief Energy/Materials: SGX Rubber Future TSR20, Crude Oil, Enterprise Products Partners, LANXESS AG, Sealed Air Corp, Valero Energy and more

• Steep dip of 30.6% in NR exports month-on-month in Sept
• Ivory Coast’s infusion touches an abysmal share of 14.9%
• Rubber glove exports to be worth a record RM13.7 billion in 2024

• For the week ending 15/Nov, US crude inventories rose by 0.5m barrels, exceeding expectations of a 0.4m barrel increase. Gasoline stocks exceeded estimates, while distillates declined less than expected.
• US natural gas inventories fell by 3 Bcf for the week ending 15/Nov, contrasting analyst expectations of a 2 Bcf buildup. Inventories are 6.4% above the 5-year seasonal average.
• TD Cowen raised its PT on Exxon, while Morgan Stanely lowered its PT on Halliburton. Aramco and Sinopec began the construction of a refining and petrochemical complex in China.

• Enterprise Products Partners L.P. recently reported its financial results for the third quarter of 2024, presenting a mixed bag of operational achievements and persisting challenges that are crucial for investors considering the company’s prospects.
• In the financial spectrum, the company experienced a growth in adjusted EBITDA, marking a rise from $2.3 billion in the previous year’s third quarter to $2.4 billion.
• This increment underscores the company’s capability to generate earnings despite fluctuations in market conditions.

• Lanxess has seen a decline in share price due to various factors, but recent developments indicate a potential return on investment of over 30% in the next 3 years
• CEO Matthias Zachert has focused on selling off cyclical and competitively disadvantaged businesses to focus on higher value-added products, strengthening the company’s position
• Lanxess received a significant cash inflow from the sale of Currenta and Warren Buffet’s 3% stake in the company shows confidence in its transformation and future potential

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Sealed Air Company recently held its third quarter earnings call for 2024, highlighting several strategic changes and the financial outlook for the firm.
• The company is advancing its restructuring efforts by reorganizing into two distinct verticals: Food and Protective.
• This reorganization is intended to better align the company’s operations with market demands and customer needs, as well as to enhance shareholder value.

• Valero Energy Corporation recently disclosed its financial performance for the third quarter of 2024.
• The earnings report highlighted various aspects of the company’s operational and financial status, presenting a mixed set of results impacted by significant maintenance activities and a challenging margin environment.
• During the quarter, Valero’s refineries operated at 90% of their throughput capacity, in line with previous guidance, despite a period of heavy maintenance.