'Mixed' Q3 report dents NKT shares

NKT A/S

14/11/2024 09:10

** Shares in NKT  NKT.CO  slip around 3% after a "mixed" Q3
print
    ** "Mixed Q3," Jefferies says in a note, pointing out that
NKT's better-than-expected organic growth and revenues 7% ahead
of estimates drove only 1% adj. EBITDA beat
    ** "Margins missing (70bps below) especially in Solutions
with margins down yoy and significantly vs. Q2," the brokerage
says
    ** J.P.Morgan considers the group's results "solid" but
flags that there was a couple of one-offs, which may not repeat
in future
    ** The group now expects to conclude the year in the upper
end of the ranges but analysts note consensus is already sitting
there
    ** Up to the previous session's close, NKT shares were
up 34.2%​ YTD

 (Reporting by Izabela Niemiec)
 ((izabela.niemiec@thomsonreuters.com))