AutoStore gains on Q3 adjusted EBITDA, revenue beat
07/11/2024 08:15
** AutoStore AUTO.OL shares are up 12.3% after the company
posted adjusted EBITDA of $67.5 million for Q3, exceeding
company-compiled consensus by 7%
** Jefferies cites strong gross margin driven by favourable
sourcing of raw materials, product mix and price optimization
** It adds also that Q3 revenues were 5% ahead driven by
strong growth in EMEA
** "no raise to 2024 guide is likely conservatism unless Q3
saw some pull-forward, we would still see LSD upgrades with cons
moving to top end of range" - Jefferies
** The broker expects upward nudge to adjusted EBITDA given
outperformance in the third quarter
** Share on track for a best day since November 2023
(Reporting by Anna Chaberska)
((Anna.chaberska@thomsonreuters.com))