Brenntag falls after Q1 profit miss amid global economic uncertainty

Shares in Brenntag BNRGn.DE fall 3.5% in early Frankfurt trade after the German chemicals distributor posted Q1 operating EBITA below expectations and specified FY profit target, due to a challenging business environment

Brenntag's Q1 operating EBITA came in at 264.3 million euros ($295.67 million), compared to analysts' expectations of 275.9 million euros in a poll by Vara Research

"We note that Q1 consensus had come down materially over the past month and so a miss on this lowered bar will likely be taken negatively today," J.P.Morgan said, expecting the stock to underperform today

The German company expects FY operating EBITA to be at the lower end of its guidance range of 1.1 billion to 1.3 billion euros

The stock, which has gained 7.7% YTD, is seen at the bottom of Germany's blue-chip index .GDAXI

($1 = 0.8939 euros)