France's EssilorLuxottica Q3 revenue rises on wearables, myopia management portfolio growth

EssilorLuxottica SA

Tue 17:10

Overview
France eyewear and eyecare group's Q3 revenue rose 9% yr/yr to EUR 7.49 bln
Growth driven by double-digit gains in Asia-Pacific and EMEA Direct to Consumer segments
Wearables and myopia management portfolios posted double-digit revenue growth in Q3

Outlook
Company did not provide specific financial guidance for the current or upcoming periods
EssilorLuxottica expects new AI glasses launches and Nuance Audio Plus rollout to strengthen wearable portfolio
Company highlights continued momentum in wearables and myopia management portfolios

Result Drivers
DIRECT TO CONSUMER - Co said Direct to Consumer segment revenue rose 10.6% in Q3, with comparable-store sales up 6.8%
WEARABLES - Wearables revenue, including AI glasses and Nuance Audio, increased 20% in Q3
MYOPIA MANAGEMENT - Myopia management portfolio revenue grew 24% in Q3

Company press release: ID:nGNE5Q1hBM

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
 
EUR 7.49 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"
Wall Street's median 12-month price target for Essilorluxottica SA is €220.00, about 44.7% above its October 19 closing price of €152.05
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 21 three months ago

Reuters Recommended Reads
Oct 20 - EssilorLuxottica tops estimates in Q3 despite slowdown in growth of smart glasses
Oct 20 - EssilorLuxottica's smart glasses boom runs into tougher regulatory scrutiny
     

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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.)