Sweden's Troax Group Q2 EBITA beats estimates on higher order intake
Sweden's Troax Group Q2 EBITA beats estimates on higher order intake
Overview
Sweden industrial safety firm's Q2 EBITA beat analyst expectations
Q2 sales rose 23% yr/yr, but declined 8% adjusted for currency and acquisitions
Profit after tax turned negative due to non-cash revaluations and one-off relocation costs
Outlook
Troax says demand has improved but remains weak in some key segment
Result Drivers
ORDER INTAKE - Q2 order intake rose 51% yr/yr, driven by improved demand, though demand remains weak in some key segments, per CEO Martin Nyström
ONE-OFF COSTS - Q2 operating profit was impacted by one-off costs related to North American production relocation
CONTINGENT CONSIDERATION REVALUATIONS - Profit after tax was reduced by non-cash revaluations of contingent considerations of 11 MEUR
Company press release: ID:nWkr9fwwXk
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| -EUR 0.10 |
|
Q2 Net Income |
| -EUR 6.10 mln |
|
Q2 EBITA | Beat | EUR 10.90 mln | EUR 10.20 mln (3 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy"
Wall Street's median 12-month price target for Troax Group AB (publ) is SEK132.00, about 36.2% above its July 14 closing price of SEK96.90
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 15 three months ago
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.)