Sweden's Mycronic Q3 sales beat estimates, lifts 2026 outlook

Overview

• Sweden electronics equipment supplier's Q3 sales rose 38% yr/yr, beating analyst expectations

• Q3 EBIT margin improved to 26% from 15%, driven by Global Technologies division

Outlook

• Board raises 2026 net sales outlook to SEK 9.75 bln from SEK 9.25 bln

• Company targets net sales of SEK 20 bln by 2032-2035 with EBIT margin around 25%

• Company says Global Technologies' recent strong performance should not be extrapolated

Result Drivers

• GLOBAL TECHNOLOGIES - Co said Q3 sales and EBIT were mainly driven by strong performance in Global Technologies division, with product mix and volume effects

• ORDER BACKLOG - Co said Global Technologies division benefited from large order backlog, focus now on maximizing production capacity

• AI INFRASTRUCTURE & DEFENSE - Co said favorable market conditions for Global Technologies were driven by AI infrastructure, advanced packaging and defense investments

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the semiconductor equipment & testing peer group is "buy."

• Wall Street's median 12-month price target for Mycronic AB (publ) is SEK350.00, about 19.2% above its October 21 closing price of SEK293.60

• The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 34 three months ago

Reuters Recommended Reads

• Oct 22 - Sweden's AFRY beats Q3 sales estimates on strong order backlog

• Oct 21 - Sweden's HMS Networks Q3 sales rise 15%, meet expectations

• Oct 22 - Sweden's Pricer Q3 profit margin hits record high

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(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.)