Alfa Laval falls on Q4 profit miss, slowing demand

Alfa Laval AB

06/02/2024 08:16

** Shares of Alfa Laval  ALFA.ST  fall 2.5% on a Q4 profit
miss and as the Swedish engineering group guided for Q1 demand
"somewhat lower" than in Q4
    ** J.P.Morgan expected the share to underperform on the back
of weaker earnings and implied slowing order intake that could
prompt consensus downgrades
    ** The company reported Q4 adjusted EBITA of SEK 2.83
billion ($267.3 million), 3% below a consensus cited by JPM
    ** The broker says Energy and Food & Water divisions were
much weaker than expected, while Marine was much stronger in
terms of profitability
    ** Alfa Laval's orders slightly beat consensus, but JPM
notes Energy and Marine units significantly missed the trends
and expectations, while Food & Water was stronger 
    ** The stock is on track for its worst day since October if
losses hold

($1 = 10.5880 Swedish crowns)

 (Reporting by Agata Rybska)
 ((gdansk.newsroom@thomsonreuters.com;))