Bpost jumps after Q3 beat, reinstated guidance

Bpost SA

10/11/2023 08:16

** Shares in Bpost  BPOST.BR  rise 4% after the Belgian
postal operator posted EBIT above forecasts and reinstated 2023
core profit guidance
    ** It now expects EBIT of more than 240 million euros ($257
million) for 2023, after a previous guidance of 240-260 million
euros
    ** The group reports Q3 adjusted EBIT of 28.1 million euros,
above the 23.6 million euro consensus
    ** Jefferies says the EBIT beat was driven by price and mix
effects and parcel volume growth
    ** "bpost's performance is relatively resilient compared to
PostNL  PTNL.AS , which was loss-making in 3Q23", the broker
adds
    ** KBC points to a good set of results and welcomes the
reinstatement of guidance, which stands above its forecast of
237 million euros
    ** "Excluding the compliance impact, the new outlook implies
an adj. EBIT at the higher end of the original EUR 240-260 mln
range, despite the bigger headwinds in the US versus the start
of this year" - KBC

 (Reporting by Federica Mileo in Gdansk)
 ((Federica.mileo@thomsonreuters.com))