Thule tops STOXX as Q3 beats estimates

Thule AB

23/10/2024 08:44

** Shares in Swedish sports and outdoor product maker Thule
 THULE.ST  jump 12% after the company reported
better-than-expected third quarter results
    ** The company's quarterly EBIT grew 15% to 413 million
Swedish crowns and came 7% ahead of a consensus cited by
Jefferies
    ** The brokerage attributed the growth to improved gross
margin due to product mix, increased volumes and lower material
costs
    ** "We view the report as a sign of strength in a difficult
consumer environment (...)," Jefferies said in a note
        ** The stock, on track for it's best day since April
2023, hits its highest in 14 months
  
    ** Shares in peer Dometic  DOMETIC.ST , which on Wednesday
posted in-line Q3 results and said it is assessing a
restructuring program, are up 1% at 0737 GMT

    

 (Reporting by Rafal Wojciech Nowak)
 ((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))