Noble Group to release Q3 results on Nov 9, had warned of over US$1b loss

Noble Group, which has warned of a loss of US$1.1 billion to US$1.25 billion for the third quarter, said it will release its quarterly results on Nov 9.
Noble Group, which has warned of a loss of US$1.1 billion to US$1.25 billion for the third quarter, said it will release its quarterly results on Nov 9. PHOTO: REUTERS

SINGAPORE - Noble Group, which has warned of a loss of US$1.1 billion to US$1.25 billion for the third quarter, said on Monday (Nov 6) it will release its those quarterly results on Nov 9.

The group said that it will hold an earnings conference call and webcast after market close on Thursday.

The embattled commodity trader has said that its remaining hard commodities business is expected to make net losses of US$50 million to US$100 million for the quarter - the third straight quarter in which the division has been in the red.

The group has sold most of its oil business to Vitol Group in a recently-concluded deal that it said it would lose money on.

Market observers are widely expecting the firm to restructure its debt of over US$3 billion.

Noble Group has already started talks with lenders under its US$1.1 billion revolving credit facility, or RCF, due in May 2018. The lenders have agreed to extend a covenant waiver that was due to expire on Oct 20, 2017, until Dec 20, 2017.