Sweden's Oxe Marine Q2 revenue drops, loss widens
Sweden's Oxe Marine Q2 revenue drops, loss widens
Overview
Sweden diesel outboard maker's Q2 revenue fell sharply amid weak marine market
Q2 loss per share widened from prior year
Gross margin improved to 40% from 37% on product mix and engineering services
Outlook
OXE Marine says marine market remains weak with continued uncertainty impacting customer decisions
Company reports increased enquiries and evaluations for new installations entering Q3
Result Drivers
SOFT DEMAND - Co said revenue decline reflected continued weakness in the marine market and delays in U.S. governmental projects
PRODUCT MIX AND SERVICES - Gross margin improvement attributed to product mix and engineering services adding value to engine sales
Company press release: ID:nMFN4dz3qg
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| SEK 15.50 mln |
|
Q2 Loss Per Share |
| SEK 0.03 |
|
Q2 Gross Margin |
| 40.00% |
|
Q2 EBITDA |
| -SEK 18.10 mln |
|
Q2 Gross Profit |
| SEK 6.30 mln |
|
Analyst Coverage
Wall Street's median 12-month price target for Oxe Marine AB is SEK0.43, about 75.5% above its July 23 closing price of SEK0.25
Reuters Recommended Reads
July 21 - Finland's Wartsila tops estimates for quarterly orders as electricity demand grows
July 21 - Sweden's Alfa Laval Q2 sales rise 6%, beat estimates
July 23 - MarineMax Q3 revenue, adjusted EPS miss estimates
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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.)