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France's EssilorLuxottica Q3 revenue rises on wearables, myopia management portfolio growth

By Reuters News


Overview

  • France eyewear and eyecare group's Q3 revenue rose 9% yr/yr to EUR 7.49 bln

  • Growth driven by double-digit gains in Asia-Pacific and EMEA Direct to Consumer segments

  • Wearables and myopia management portfolios posted double-digit revenue growth in Q3


Outlook

  • Company did not provide specific financial guidance for the current or upcoming periods

  • EssilorLuxottica expects new AI glasses launches and Nuance Audio Plus rollout to strengthen wearable portfolio

  • Company highlights continued momentum in wearables and myopia management portfolios


Result Drivers

  • DIRECT TO CONSUMER - Co said Direct to Consumer segment revenue rose 10.6% in Q3, with comparable-store sales up 6.8%

  • WEARABLES - Wearables revenue, including AI glasses and Nuance Audio, increased 20% in Q3

  • MYOPIA MANAGEMENT - Myopia management portfolio revenue grew 24% in Q3


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

EUR 7.49 bln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"

  • The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

  • Wall Street's median 12-month price target for Essilorluxottica SA is €220.00, about 44.7% above its October 19 closing price of €152.05

  • The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 21 three months ago


Reuters Recommended Reads

  • Oct 20 - EssilorLuxottica tops estimates in Q3 despite slowdown in growth of smart glasses

  • Oct 20 - EssilorLuxottica's smart glasses boom runs into tougher regulatory scrutiny


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.)

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