Sweden's Profoto Q3 earnings improve on lower costs and refund of US tariffs
Overview
Sweden lighting equipment maker's Q3 net sales rose 7.9% yr/yr, driven by organic growth
Earnings improved, helped by SEK 15 mln U.S. tariff refund and lower costs
Company saw strong sales growth in Americas and EMEA, offset by APAC decline
Outlook
Company says market conditions remain challenging with strong global competition
Profoto does not expect any rapid change in market sentiment
Company expects Profoto ProPanel to contribute to sales over time as adoption increases
Result Drivers
TARIFF REFUND - Earnings were positively impacted by a SEK 15 mln refund of U.S. tariffs
COST CONTROL - Improved earnings were driven by lower costs, thanks to continued strong cost control
PRODUCT DEVELOPMENT - Launch of Profoto ProPanel LED-panel is progressing as planned and is being used in productions worldwide
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | SEK 128 mln | ||
Q3 EPS | SEK 0.36 | ||
Q3 Net Income | SEK 14 mln | ||
Q3 Adjusted EBIT | SEK 19 mln | ||
Q3 Adjusted EBIT Margin | 14.60% | ||
Q3 EBITDA | SEK 40 mln |
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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.)