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LR - Legrand SA News Story

€65.76 -0.0  -0.1%

Last Trade - 23/09/20

Large Cap
Market Cap £16.58bn
Enterprise Value £19.47bn
Revenue £6.09bn
Position in Universe 45th / 850

BUZZ-Legrand: Q2 beat fails to impress, shares fall

Fri 31st July, 2020 8:46am
** Shares in electrical equipment company Legrand  LEGD.PA 
fall 3.3% as Q2 results headline beat fails to impress
    ** Legrand reports H1 sales down 12.2% at EUR 2.83 bln
($3.37 bln) with adjusted operating profit dropping 25% to EUR
496.9 mln, and FCF falling 31% to EUR 258.9 mln 
    ** "Slightly mixed," Credit Suisse says, adding that the
even though results somewhat exceed expectations, "it is one of
the smaller beats in the sector and margin deterioration is
rather pronounced"
    ** JP Morgan echoes comments, adding that "given raised
expectations following peer results and worse Q2 decrementals,"
they expected a moderate negative stock reaction
    ** Jefferies also highlights FCF missing expectations,
driven by working capital 
($1 = 0.8408 euros)

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