Sweden's Byggmax Q2 profit rises on higher gross margin, cost control
Sweden's Byggmax Q2 profit rises on higher gross margin, cost control
Overview
Nordic building materials retailer's Q2 sales rose 2.9% yr/yr, like-for-like sales up 1.4%
Q2 operating profit and net profit increased from prior year
Company cites high gross margin and cost control for improved profitability
Outlook
Byggmax did not provide specific financial guidance for the current quarter or full year in the press release
Result Drivers
GROSS MARGIN - Co said a high gross margin contributed to increased profitability in Q2
COST CONTROL - Co attributed improved results to good cost control
OPERATIONAL EXECUTION - Co said strong operational execution supported profitability
Company press release: ID:nWkr5Gl5V1
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales | Slight Beat* | SEK 2.26 bln | SEK 2.25 bln (2 Analysts) |
Q2 EBIT |
| SEK 267 mln |
|
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the home improvement products & services retailers peer group is "buy."
Wall Street's median 12-month price target for Byggmax Group AB is SEK55.00, about 9.3% above its July 9 closing price of SEK50.30
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 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.)