Belgium's Melexis forecasts lower Q4 sales as automotive customers cut inventory
30/10/2024 06:14
Oct 30 (Reuters) - Belgium's largest semiconductor
supplier Melexis MLXS.BR on Wednesday forecast
lower-than-expected fourth-quarter sales, citing temporary stock
reductions by car-making customers and uncertainty about
short-term demand.
The group, which provides components primarily to automotive
customers, expects sales in the current quarter of between 200
million and 210 million euros ($216 million to $227 million),
compared to an average analyst estimate of 255.1 million euros,
according to a company-compiled consensus.
($1 = 0.9244 euros)
(Reporting by Dagmarah Mackos; Editing by Tom Hogue)
((dagmarah.mackos@tr.com))