Sweden's Holmen Q3 sales miss estimates
Sweden's Holmen Q3 sales miss estimates
Overview
Sweden forest products firm's Q3 net sales declined yr/yr and missed analyst expectations
Q3 EPS fell yr/yr
Operating profit decline attributed to maintenance shutdown at Iggesund Mill
Outlook
Company did not provide specific guidance for future quarters or full year in the press release
Result Drivers
MAINTENANCE SHUTDOWN - Co said Q3 operating profit fell due to maintenance shutdown at Iggesund Mill
POWER ASSETS - Co said profit from hydro and wind power assets increased, offset by declines in other business areas
Company press release: ID:nWkr792DYX
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | Miss | SEK 4.95 bln | SEK 5.38 bln (7 Analysts) |
Q3 EPS |
| SEK 2.60 |
|
Q3 Net Income |
| SEK 391 mln |
|
Q3 EBIT |
| SEK 549 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the paper products peer group is "buy"
Wall Street's median 12-month price target for Holmen AB is SEK358.00, about 13.1% above its October 21 closing price of SEK316.40
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 19 three months ago
Reuters Recommended Reads
Oct 22 - Sweden's Billerud Q3 sales rise on higher volumes, pricing
Oct 20 - Finland's Ponsse Q3 net sales fall 7.4% as demand weakens
Oct 22 - Sweden's Bonava Q3 sales miss; lowers FY forecasts
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.)