Overview
Sweden measurement tech provider's Q1 sales missed analyst expectations despite 8% organic growth
Adjusted EBIT for Q1 missed analyst expectations
Adjusted EPS for Q1 rose to 6.7 euro cent
Outlook
Hexagon did not provide specific guidance or outlook for the current or future periods
Result Drivers
ORGANIC GROWTH - Co reported 8% organic growth in Q1 operating net sales
RECURRING REVENUE - Recurring revenue grew 6% organically in Q1
SEGMENT PERFORMANCE - Octave segment saw lower operating net sales and a reduced operating margin year-on-year
Company press release: ID:nWkr3rVBv7
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Miss
EUR 963.60 mln
EUR 1.28 bln (10 Analysts)
Q1 Adjusted EPS
EUR 0.07
Q1 Adjusted EBIT
Miss
EUR 251.30 mln
EUR 331.40 mln (10 Analysts)
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 9 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the electronic equipment & parts peer group is "buy"
Wall Street's median 12-month price target for Hexagon AB is SEK112.50, about 9.5% above its April 22 closing price of SEK102.75
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 23 three months ago
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.)
