Sweden's Hexagon Q3 sales beat estimates broad-based growth
Sweden's Hexagon Q3 sales beat estimates broad-based growth
Overview
Sweden measurement tech firm's Q3 sales grew 13% organically to 1.05 bln EUR, beating analyst expectations
Adjusted EPS for Q3 rose to 8.2 euro cent
Company growth driven by demand for precision measurement and autonomous solutions
Outlook
Company did not provide specific guidance for the current quarter or full year in its press release
Result Drivers
ORGANIC GROWTH - Co reported 13% organic sales growth in Q3
GROSS MARGIN - Co reported gross margin of 61.6%, down from 63.7% in prior yr
RECURRING REVENUE - Co recurring revenue grew 3% organically in Q3
Company press release: ID:nWkr18V6TK
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | Beat | EUR 1.05 bln | EUR 1.01 bln (9 Analysts) |
Q3 Adjusted EPS |
| EUR 0.082 |
|
Q3 Organic Growth |
| 13.00% |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "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 SEK106.00, about 3.9% above its October 22 closing price of SEK102.05
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 19 three months ago
Reuters Recommended Reads
Oct 22 - Sweden's Atlas Copco Q3 revenue slightly beats estimates, orders up 29%
Oct 22 - Sweden's Sandvik Q3 revenue beats estimates on order growth
Oct 23 - Sweden's Indutrade Q3 EBITA slightly beats estimates on strong order intake, pricing
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.)