SBO falls after Q1 miss, hit by US market challenges

SBO AG

23/05/2024 08:52

** Austrian oil and gas equipment maker Schoeller-Bleckmann
 SBOE.VI  falls 6.5% following Q1 miss
    ** The company reported an EBIT of 20.6 million euros 
($22.27 million), below Erste Group Research's estimate that saw
it at 23.0 million euros 
    ** "While the difference on the top line was rather
insignificant, the profitability drop was somewhat more
pronounced than we anticipated" Erste Group research writes
    ** The broker points to challenging market conditions in
U.S., unfavourable profit mix in the quarter that hit margin
    ** SBO falls to the bottom of the Austrian traded index
 .ATX 

($1 = 0.9248 euros)

 (Reporting by Tristan Veyet)
 ((Tristan.chabba@thomsonreuters.com))