Autostore drops on Q4 miss, lower 2023 guidance
16/02/2023 08:34
** Shares in Autostore AUTO.OL slide around 9% after the
Norwegian robotics firm reported Q4 revenue and orders below
expectations and lowered the upper range of its revenue guidance
for 2023
** The company posted a Q4 revenue of $148 mln, missing the
company consensus by 2%, while order intake of $153 mln was
about 4% below the company consensus according to J.P. Morgan
** It lowered its guidance for 2023 revenue to $700-750 mln,
down from $700-800 mln expected previously, JPM flags
** Given the $476 mln backlog at Q4, the new guidance
implies that Autostore does not see the order intake inflect
over H1 2023, Jefferies says
** Today's losses wiped off NOK 7.2 bln from the company's
market cap
(Reporting by Louise Breusch Rasmussen)
((Louisebreusch.rasmussen@tr.com))