Huhtamaki tops STOXX after Q3 EBIT beat

Huhtamaki Oyj

20/10/2023 09:10

** Shares in Huhtamaki  HUH1V.HE  rise more than 5%, topping
pan-European STOXX 600  .STOXX , after the Finnish maker of
packaging for food and beverages posted Q3 results ahead of
analysts' expectations
    ** The company's Q3 adjusted EBIT came in at EUR 100.3
million ($106.0 million), above the EUR 92.9 million in LSEG
IBES data
    ** Jefferies says the beat was driven by "continued strong
N. America division & better than feared Flexible Packaging"
    ** "Trading conditions are expected to remain relatively
stable, and we see EBIT momentum inflecting to upgrades given a
positive price/cost spread from 4Q23-2024," adds the brokerage
    ** The shares are on track for best day a one year

($1 = 0.9463 euros)

 (Reporting by Greta Rosen Fondahn)
 ((Greta.RosenFondahn@thomsonreuters.com))