Coloplast slips as it sticks to guidance after Q2 profit miss

Coloplast A/S

07/05/2024 09:04

** Coloplast A/S  COLOb.CO  shares fall around 5% to their
lowest since February after the Danish medical equipment maker
posted lower-than-expected quarterly earnings and kept its
full-year guidance unchanged
    ** Q2 adjusted EBIT came in at DKK 1.79 billion ($258.5
million), 3.2% below consensus estimates provided by the company
    ** Jefferies says that "weakish" EBIT margin is mainly due
to continued foreign exchanges challenges and company-wide
salary hikes
    ** Lack of upgrade in FY 2023/24 EBIT margin outlook may be
taken negatively by the investors, RBC says
    ** "We understand that many investors thought it likely that
Coloplast would increase FY2023/34 EBIT margin guidance," the
broker adds
    

($1 = 6.9274 Danish crowns)

 (Reporting by Anna Chaberska)
 ((Anna.chaberska@thomsonreuters.com))