Lab automation group Stratec falls after guidance cut
18/10/2024 09:31
** Shares of Stratec SBSG.DE fall as much as 6.7% after
the German lab automation group cut its 2024 sales guidance
after market close on Thursday
** After weaker than expected preliminary 9-mth sales due to
postponed deliveries into Q4 and 2025, Stratec expects 2024
sales to "remain stable or decline slightly" from last year, vs
previous guidance for stable to slightly higher sales
** It confirms EBIT margin guidance and says it is "shortly
due to sign further additional orders" that should improve Q4
results, which a local trader says sounds "quite cryptic"
** "The Q3 print is a reminder of the lumpy nature of the in
vitro diagnostics (IVD) instrument sector, which can mean a few
order delays resulting in notable deviations from management and
consensus expectations," Berenberg analyst Odysseas Manesiotis
says
** However, Manesiotis adds the guidance cut does not
"notably" change the consensus which was already expecting flat
sales and margin at the lower end of the group's 10-12% target
** The shares are down 2% by 0825 GMT, after touching their
lowest price since Aug. 6 at 37.10 euros earlier in the session
(Reporting by Marleen Kaesebier)
((Marleen.kaesebier@thomsonreuters.com))