AutoStore's Q2 misses expectations, shares slump
15/08/2024 08:22
** AutoStore AUTO.OL falls 13% after it reported revenues of
$154.2 million, an 8% miss vs company-provided consensus
** The company's adjusted EBITDA off $75.1 also misses
consensus by 7% cited by Jefferies
** Jefferies points at challenges in accurately predicting
conversion from pipeline to orders to revenues and elongated
decision-making cycles at customers
** The broker also notes market delay due to macro issues
and high interest rates
** Shares are on track for their worst day in almost 4
months, if losses persist
(Reporting by Anna Chaberska)
((Anna.chaberska@thomsonreuters.com))