Sweden's Bulten Q2 sales fall but margin improves
Sweden's Bulten Q2 sales fall but margin improves
Overview
Sweden precision manufacturer Bulten's Q2 net sales fell 7.2% yr/yr
Q2 operating margin improved to 8.0% from 4.3% a year earlier
Company agreed to divest contract manufacturing operations in Europe and China
Outlook
Company did not provide specific financial guidance or forecasts for the current or future periods in its press release
Result Drivers
MARGIN IMPROVEMENT - Co said Q2 saw continued improvement in profitability and resilient margins despite lower volumes in parts of the market
PORTFOLIO FOCUS - Co highlighted divestment of contract manufacturing operations in Europe and China as a decisive step in its transformation
Company press release: ID:nMFN301K3r
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales | Miss | SEK 779 mln | SEK 1.32 bln (1 Analyst) |
Q2 EPS |
| SEK 1.55 |
|
Q2 Net Income |
| SEK 38 mln |
|
Q2 EBIT | Miss | SEK 62 mln | SEK 81 mln (1 Analyst) |
Q2 EBIT Margin |
| 8.00% |
|
Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy."
Wall Street's median 12-month price target for Bulten AB is SEK58.00, about 32.1% above its July 9 closing price of SEK43.90
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 6 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)