Lagercrantz Group Q2 revenue rises on higher order intake
Lagercrantz Group Q2 revenue rises on higher order intake
Overview
Sweden tech conglomerate's Q2 net revenue grew 22% yr/yr, organic growth was 12%
Profit after taxes for Q2 rose 31% yr/yr
Company completed eight acquisitions in first six months, adding MSEK 660 in annual revenue
Outlook
Lagercrantz Group did not provide specific financial guidance for the coming quarters or full year in the press release
Result Drivers
ORDER INTAKE - Co said stronger order intake before summer led to increased Q2 revenue, with organic growth of 12%
ACQUISITIONS - Newly acquired companies contributed positively to profit after net financial items (EBT), per CEO
Company press release: ID:nMFN8KlSHN
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Pretax Profit |
| SEK 425 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the consumer goods conglomerates peer group is "buy"
Wall Street's median 12-month price target for Lagercrantz Group AB is SEK281.50, about 25.2% above its October 22 closing price of SEK224.80
The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 36 three months ago
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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.)