Amplifon shares plummet on mixed Q3, lack of outlook hike

GN Store Nord A/S

Today 09:21

** Shares in Amplifon AMPF.MI plummet around 13% in early trade, after the Italian hearing aid retailer reported Q3 results on Thursday with no changes to full-year outlook 
** "Q3 a mixed bag, as both OSG and adj EBITDA miss expectations, but a 4% beat on adj net profit partly offsetting the above," Jefferies says in a note 
** J.P. Morgan says bears may focus on the lack of a guidance upgrade and on Amplifon's acquisition target, GN's GN.CO Hearing unit, possibly not having the most competitive product offering
** JPM adds that management refrained from commenting on product competitiveness, instead pointing to its Capital Markets Day scheduled for Spring 2027
** Including today's fall, the stock has dropped by 16.36% year-to-date, as per LSEG data​
     

(Reporting by Mirko Miorelli)
((Mirko.Miorelli@thomsonreuters.com))