Norway's Kid ASA beats Q2 revenue estimates on strength across segments
Norway's Kid ASA beats Q2 revenue estimates on strength across segments
Overview
Norway home retailer's Q2 revenue rose 6.8% yr/yr, beating analyst expectations
Q2 EPS increased year-over-year, supported by stronger profitability and lower financial expenses
Gross margin improved to 63.2% on favorable freight costs, currency effects and product mix
Outlook
Kid ASA did not provide specific guidance or outlook for future quarters or the full year in press release
Result Drivers
SEASONAL ASSORTMENTS - Co said strong performance in seasonal assortments supported revenue growth
ONLINE SALES - Continued solid Online sales growth contributed to higher revenue, per co
FREIGHT, CURRENCY, PRODUCT MIX - Gross margin improvement attributed to favorable freight costs, currency effects and product mix
Company press release: ID:nWkrcBXFG
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | NOK 914.80 mln | NOK 904 mln (4 Analysts) |
Q2 EPS |
| NOK 0.90 |
|
Q2 Gross Margin |
| 63.20% |
|
Q2 EBITDA |
| NOK 217.80 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the home furnishings retailers peer group is "buy"
Wall Street's median 12-month price target for Kid ASA is NOK150.00, about 14.2% above its August 19 closing price of NOK131.40
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago
Reuters Recommended Reads
Aug 18 - Home Depot rides steady repair demand as housing market remains subdued
Aug 19 - TJX Q2 adjusted EPS beats on strong HomeGoods segment sales
Aug 19 - Lowe's Q2 sales slightly miss estimates; lowers FY guidance amid DIY weakness
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(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.)