Fluidra climbs as growth in North American drive Q2 beat

Fluidra SA

01/08/2024 09:21

** Shares of Fluidra  FLUI.MC  rise 4.4% after
better-than-expected Q2 results
    ** It posts quarterly net sales up at 644 million euros 
($694.36 million) from 634 million euros a year ago, and
adjusted EBITDA rising to 178 million euros, driven by organic
growth of 7.4% in North America
    ** J.P.Morgan says Q2 adj. EBITDA beat by 3% and sales beat
by 1%
    ** "We believe expectations were lowered after peer
reporting and therefore this beat and narrowing of guidance
should provide confidence for FY," the brokerage says
    ** JPM notes that though Fluidra narrowed full year
guidance, its midpoint still sits close to consensus, and that
the strong H1 might result in estimates moving towards the
higher end of the range
    ** The stock is on track for its best day since May 10, when
it closed 7.3 % higher

($1 = 0.9275 euros)

 (Reporting by Maria Luiza Amaral)
 ((Mia.Amaral@thomsonreuters.com; +48 58 769 66 00))