Tomra tops STOXX 600 after Q3 earnings beat
BUZZ-Tomra tops STOXX 600 after Q3 earnings beat ** Shares in Tomra Systems TOM.OL rise 8% after the Norwegian recycling technology firm reported Q3 results above estimates
** It reports Q3 revenue at €366 million ($410.36 million) and adj EBITA at €47 million, both beating respective company-compiled consensus figures of €347 million and €41 million
** Jefferies says the collection division is the main growth driver
** The outlook is "incrementally more supportive," Jefferies adds
** The broker points to Tomra's hiked FY revenue and Q4 gross margin guidance for its recycling division and more specified guidance for collection and food ones
** The broad-based beat and a more positive recycling outlook offset anticipated Q4 softness in collection and lighter food order volumes, Jefferies says
** The shares are on track for their best day in three months if gains hold
** They sit at the top of the pan-European STOXX 600 index .STOXX
($1 = 0.8919 euros)
(Reporting by Vera Dvorakova)