Sweden's C Rad Q3 revenue falls on weaker EMEA and APAC sales
Sweden's C Rad Q3 revenue falls on weaker EMEA and APAC sales
Overview
Sweden-based radiotherapy imaging firm's Q3 revenue fell 24% on weaker EMEA and APAC sales
Order intake dropped 29% as investment decisions were postponed in several markets
Company wrote off MSEK 93 from order backlog after a major U.S. order cancellation
Outlook
C-RAD aims to improve commercial conversion in priority markets for the rest of the year
Company plans to increase share of recurring revenues from its installed base
C-RAD will continue investing in product development and partnerships
Result Drivers
REGIONAL WEAKNESS - Co said revenue and order intake declines were mainly due to weaker performance and postponed investments in EMEA and APAC
SERVICE REVENUE - Gross margin improved due to a higher proportion of service revenue and some proton deliveries
RESTRUCTURING MEASURES - Cost discipline and restructuring helped offset some impact from lower volumes, per CEO Tomas Blomquist
Company press release: ID:nMFN40DxNS
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS |
| SEK 0.31 |
|
Q3 Net Income |
| SEK 10 mln |
|
Q3 EBIT |
| SEK 10 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 18 three months ago
Reuters Recommended Reads
Oct 21 - Sweden's Getinge Q3 organic sales rise 2.1%
Oct 22 - Sweden's XVIVO Q3 revenue beat expectations on thoracic sales
Oct 22 - Sweden's Arjo Q3 revenue beats estimates, gross margin expands
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(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.)