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GTT heads for worst day since 2018 after Q3 revenue miss

By Reuters News08:56 (UTC), 26 October 2026 Updated

** Shares in GTT GTT.PA drop around 12% after the French LNG technology company reported lower-than-expected Q3 revenue

** Q3 revenue came in at €570 mln versus a consensus estimate of €581 mln, cited by Bernstein

** The broker cuts its rating on the stock to "market perform" from "outperform" and decreases its PT by 14% to €210

** It says that GTT’s fundamentals remain strong and describes the miss as "not particularly material", but notes that investor expectations may have become too optimistic, creating unease among analysts after the results call

** It adds the PT cut reflects higher capital cost after the rise of French bond yields, which it says is negative for GTT given net cash position of only around 4% of market cap

** If losses hold, the stock will see its worst day since April 2018; it is at the bottom of pan-European STOXX 600 .STOXX index

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