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Norway's AutoStore Q3 revenue beats on strong customer demand 

By Reuters News


Overview

  • Norway warehouse automation firm's Q3 revenue rose 38% yr/yr, beating analyst expectations

  • Order intake for Q3 grew 17% yr/yr to $178 mln

  • Company raised full-year 2026 revenue guidance to around $750 mln


Outlook

  • AutoStore raises 2026 full-year revenue guidance to around $750 mln from $700 mln

  • Company cites strong customer demand and execution supporting outlook for remainder of 2026

  • AutoStore expects Logiqs acquisition to expand addressable market over time


Result Drivers

  • CUSTOMER DEMAND - Co said strong customer demand and execution drove revenue and order intake growth

  • CASH GENERATION - Co highlighted strong cash flow conversion as a driver of business strength

  • TECHNOLOGY EXPANSION - Co said Logiqs acquisition will enable expansion into roaming pallet AS/RS capabilities


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$192 mln

$170.27 mln (7 Analysts)

Q3 Gross Margin

71.30%

Q3 Adjusted EBITDA Margin

42.30%

Q3 Orders

$178 mln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 9 "strong buy" or "buy", 4 "hold" and 2 "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 AutoStore Holdings Ltd is NOK18.00, about 22.2% above its November 4 closing price of NOK14.73

  • The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 23 three months ago


Reuters Recommended Reads

  • Nov 3 - Manufacturing marketplace Xometry beats Q3 estimates; raises FY revenue outlook

  • Nov 3 - AMETEK Q3 sales beat estimates, raises outlook

  • Nov 3 - Zebra Technologies Q3 revenue beats on strong demand across segments


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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