Kion beats Q3 earnings expectations, shares soar
30/10/2024 08:24
** Shares in Kion KGX.DE rise 9% after the German
industrial truck group beat analysts' expectations on Q3
adjusted EBIT by 8% and order intake by 3%
** Sales were a touch below consensus but the company
narrowed the range for its FY sales and FCF for 2024 to the
middle, a local trader notes
** The guidance ranges for adjusted EBIT and ROCE for FY
2024 were also narrowed, with the middle moved up slightly
** Jefferies notes the slight guidance increase is due to
margin improvement in their Supply Chain Solutions segment
outweighing a slightly weaker Industrial Trucks and Services
segment
** Shares are on track for their best day since Dec. 2023
(Reporting by Bernadette Hogg)
((bernadette.hogg@thomsonreuters.com))