Sweden's Holmen Q3 sales miss estimates

Overview

• Sweden forest products firm's Q3 net sales declined yr/yr and missed analyst expectations

• Q3 EPS fell yr/yr

• Operating profit decline attributed to maintenance shutdown at Iggesund Mill

Outlook

• Company did not provide specific guidance for future quarters or full year in the press release

Result Drivers

• MAINTENANCE SHUTDOWN - Co said Q3 operating profit fell due to maintenance shutdown at Iggesund Mill

• POWER ASSETS - Co said profit from hydro and wind power assets increased, offset by declines in other business areas

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the paper products peer group is "buy"

• Wall Street's median 12-month price target for Holmen AB is SEK358.00, about 13.1% above its October 21 closing price of SEK316.40

• The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 19 three months ago

Reuters Recommended Reads

• Oct 22 - Sweden's Billerud Q3 sales rise on higher volumes, pricing

• Oct 20 - Finland's Ponsse Q3 net sales fall 7.4% as demand weakens

• Oct 22 - Sweden's Bonava Q3 sales miss; lowers FY forecasts

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.)