Novozymes shares track best day in 11 months on 'nice beat' across the board

Novozymes A/S

26/10/2023 08:43

** Shares in Novozymes  NZYMb.CO  are up nearly 5% after the
Danish biotechnology company delivered quarterly sales and
earnings above expectation
    ** The group's sales came in at DKK 4.46 bln ($629.9 mln),
compared to DKK 4.41 bln seen in company-provided consensus;
EBIT at DKK 1.02 bln vs DKK 989 mln seen by analysts
    ** "A very decent 3Q print," J.P.Morgan says, adding that
Novozymes delivered a nice beat across all key KPIs
    ** The brokerage notes organic growth was higher than
expected mainly in the Bioenergy business, where it remained
very strong at +21% YoY, and Household Care seeing a step-up in
Q3
    ** The stock is on track for its best day since November
2022

($1 = 7.0800 Danish crowns)
    

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