Sweden's Sandvik Q3 revenue beats estimates on order growth

Sandvik AB

Yesterday 07:08

Overview
Sweden industrial tech group's Q3 revenue rose 26% and beat analyst expectations
Adjusted EBIT for Q3 beat analyst expectations
Order intake grew 17% yr/yr at fixed exchange rates

Outlook
Sandvik did not provide specific guidance for future quarters or the full year in the press release

Result Drivers
ORDER GROWTH - Sandvik said order intake rose 17% yr/yr at fixed exchange rates, supporting revenue growth
ORGANIC REVENUE GROWTH - Co reported organic revenue growth of 25% at fixed exchange rates
MARGIN IMPROVEMENT - Adjusted EBITA margin increased to 22.5% from 19.0%

Company press release: ID:nWkr8lk0LV

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
SEK 37.73 bln
SEK 36.89 bln (14 Analysts)
Q3 Adjusted EBIT
Beat
SEK 8 bln
SEK 7.86 bln (12 Analysts)
Q3 Adjusted EBITA
 
SEK 8.48 bln
 
Q3 Adjusted EBITA Margin
 
22.50%
 
Q3 Orders
 
SEK 36.95 bln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 10 "strong buy" or "buy", 10 "hold" and 3 "sell" or "strong sell"
The average consensus recommendation for the mining support services & equipment peer group is "buy."
Wall Street's median 12-month price target for Sandvik AB is SEK410.00, about 15.8% above its October 21 closing price of SEK354.00
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 23 three months ago

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Oct 20 - Switzerland's ABB Q3 revenue rises 14%, to form joint venture with Mitsubishi Electric

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)