Sweden's Peab Q2 net sales rise on high order levels
Sweden's Peab Q2 net sales rise on high order levels
Overview
Sweden construction firm's Q2 net sales rose 12% yr/yr
Operating profit and margin improved from a year earlier
Orders received and order backlog reached record highs
Outlook
Peab did not provide specific guidance or forecasts for upcoming quarters or full yr in its press release
Result Drivers
ORDER INTAKE - High level of orders received and record order backlog supported results, according to CEO Jesper Göransson
SALES GROWTH - Net sales increased 12% in Q2, contributing to improved operating profit and margin
Company press release: ID:nWkr9cPFq2
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| SEK 16.78 bln |
|
Q2 EBIT |
| SEK 925 mln |
|
Q2 EBIT Margin |
| 5.50% |
|
Q2 Orders |
| SEK 18.34 bln |
|
Q2 Pretax Profit |
| SEK 849 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction & engineering peer group is "buy"
Wall Street's median 12-month price target for Peab AB is SEK109.00, about 24.9% above its July 13 closing price of SEK87.25
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago
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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.)