Norway's Kitron Q2 revenue tops estimates on defence, aerospace demand
Norway's Kitron Q2 revenue tops estimates on defence, aerospace demand
Overview
Scandinavian electronics manufacturer reported Q2 revenue up 72% yr/yr, beating analyst expectations
Q2 operating profit (EBIT) and margin both beat analyst expectations
Outlook
Kitron maintains 2026 revenue outlook of EUR 900-1050 mln
Company keeps 2026 EBIT guidance at EUR 84-108 mln
Kitron says performance trending towards top end of guidance ranges
Result Drivers
DEFENCE/AEROSPACE DEMAND - Accelerating demand in the Defence/Aerospace market sector was the primary driver of revenue and profit growth
BROAD-BASED GROWTH - All market sectors grew compared to a year ago, contributing to overall revenue increase
SUPPLY CHAIN REORGANIZATION - Customers reorganizing supply chains around resilience and origin rather than lowest cost benefited Kitron, per CEO Peter Nilsson
Company press release: ID:nGNE4jsW2m
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | EUR 295.70 mln | EUR 274.50 mln (6 Analysts) |
Q2 Net Income |
| EUR 21.40 mln |
|
Q2 EBIT | Beat | EUR 28.30 mln | EUR 27.17 mln (6 Analysts) |
Q2 EBIT Margin |
| 9.60% |
|
Q2 Order Backlog |
| EUR 794.30 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "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 Kitron ASA is NOK115.00, about 11.8% above its July 9 closing price of NOK102.90
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 24 three months ago
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.)