'Still no silver lining' - Wacker Neuson falls 8% after guidance cut

Wacker Neuson SE

14/11/2024 08:22

** Shares in Wacker Neuson  WACGn.DE  fall more than 8%
after the German construction equipment maker cut its 2024
outlook for the second time this year
    ** Wacker Neuson lowers its FY revenue and EBIT margin
guidance to EUR 2.2-2.3 bln ($2.3-2.4 bln) and 5.5-6.5%
respectively
    ** "Not really unexpected, but won't help of course," a
local trader says, while brokerage Jefferies says it still
doesn't see a silver lining 
    ** The company reports a 14.5% drop in 9-month revenue,
while its EBIT margin falls to 6.3% from 11.9% year agi
    ** Shares are among the worst performers in Germany's small
cap index  .SDAXI  


($1 = 0.9480 euros)

 (Reporting by Chiara Holzhaeuser)
 ((Chiara.Holzhaeuser@thomsonreuters.com))