Riverstone Earnings May Be Weighed by Persistent Glove Oversupply -- Market Talk

Dow Jones
11/13

0303 GMT - Riverstone's earnings could be weighed by persistent glove oversupply, say Nomura's Heng Siong Kong and Aakash Kedia in a note. The Singapore-listed glove manufacturer noted new production capacities are coming up in Indonesia, Cambodia and Vietnam as Chinese glove makers attempt to circumvent U.S. tariffs. Riverstone has also found it difficult to compete on glove pricing after Indonesia allowed coal use in production, the analysts add. They cut their 2025, 2026, and 2027 earnings per share estimates by 21%, 19% and 22%, respectively, to reflect slower volume growth and average selling price recovery, in line with Riverstone's more cautious outlook amid U.S. tariff uncertainty. Nomura lowers its rating to neutral from buy and trims the target to S$0.78 from S$0.93. The stock is down 0.6% at S$0.855.(megan.cheah@wsj.com)

 

(END) Dow Jones Newswires

November 12, 2025 22:03 ET (03:03 GMT)

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