Sweden's Garo Q2 net sales rise on digital offerings
Sweden's Garo Q2 net sales rise on digital offerings
Overview
Sweden electrical products maker's Q2 net sales rose 2% yr/yr
Company posted Q2 net loss and negative EBIT margin
Garo consolidated subsidiaries and relocated production to streamline operations
Outlook
Company did not provide specific guidance for future quarters or the full year
Result Drivers
EFFICIENCY MEASURES - Garo cited corporate consolidation, production relocation, and organizational changes to streamline operations and enhance efficiency
DIGITAL OFFERINGS - Launch of new apps and a web interface aimed to improve user experience in E-mobility segment
Company press release: ID:nMFNbwQFJH
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | SEK 272.30 mln | SEK 276 mln (1 Analyst) |
Q2 Loss Per Share |
| SEK 0.41 |
|
Q2 Net Loss |
| SEK 20.30 mln |
|
Q2 EBIT | Miss | -SEK 17.10 mln | SEK 13 mln (1 Analyst) |
Q2 EBIT Margin |
| -6.30% |
|
Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the electrical components & equipment peer group is "buy."
Wall Street's median 12-month price target for Garo AB is SEK15.00, about 14.9% above its August 13 closing price of SEK13.06
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago
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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.)