Vallourec drops as it sees Q3 profit decline
** Shares in Vallourec VLLP.PA drop more than 4% after the group said it expects its profit to decline q/q in Q3
** The group expects its EBITDA to decrease in Q3 versus Q2 due to lower overall tubes volumes and reduced U.S. tubes pricing
** It also forecasts FY EBITDA between EUR 800 and 850 million due to lower US prices, which is 11% below BBG consensus according to Jefferies
** The group posted a decline in Q2 revenue and EBITDA, citing weaker market conditions in the U.S.
Reporting by Federica Mileo
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