Ams OSRAM hits 15-yr low as it sees lower Q4 revenue, weak 2025 start
07/11/2024 08:44
** Shares in ams OSRAM AMS.S fall 7% to a 15-year low as
the Austrian semiconductor manufacturer forecasts lower Q4
revenue and expects a weak Q1 in 2025, due to uncertainty in the
global automotive demand
** Ams OSRAM expects Q4 revenue in a range of 810 million to
910 million euros ($871.07-$978.61 million), compared to
analysts' estimate of 924 million euros for the quarter in a
poll by Vara Research
** "The company expects the cyclical weakness in its
automotive business to become fully visible in the first
quarter, with gradual, steady improvement during the financial
year of 2025," the Swiss-listed sensor maker says in a statement
** "Given numerous profit warnings this reporting season due
to weakening auto and industrial demand, the negative near-term
message had to be expected," Stifel says
** The company's Q3 revenue came in at 881 million euros,
down 3% from 904 million a year earlier, missing analysts'
forecast of 875.7 million euros in a poll by Vara Research
** The stock, which has lost 65% YTD including today's
session, hits the bottom of the Swiss mid-cap index .SMIM
($1 = 0.9299 euros)
(Reporting by Ozan Ergenay)
((ozan.ergenay@thomsonreuters.com))