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Sweden's Hexagon Q3 sales beat estimates broad-based growth

By Reuters News


Overview

  • Sweden measurement tech firm's Q3 sales grew 13% organically to 1.05 bln EUR, beating analyst expectations

  • Adjusted EPS for Q3 rose to 8.2 euro cent

  • Company growth driven by demand for precision measurement and autonomous solutions


Outlook

  • Company did not provide specific guidance for the current quarter or full year in its press release


Result Drivers

  • ORGANIC GROWTH - Co reported 13% organic sales growth in Q3

  • GROSS MARGIN - Co reported gross margin of 61.6%, down from 63.7% in prior yr

  • RECURRING REVENUE - Co recurring revenue grew 3% organically in Q3


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

Beat

EUR 1.05 bln

EUR 1.01 bln (9 Analysts)

Q3 Adjusted EPS

EUR 0.082

Q3 Organic Growth

13.00%


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 9 "hold" and 2 "sell" or "strong sell"

  • The average consensus recommendation for the electronic equipment & parts peer group is "buy."

  • Wall Street's median 12-month price target for Hexagon AB is SEK106.00, about 3.9% above its October 22 closing price of SEK102.05

  • The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 19 three months ago


Reuters Recommended Reads

  • Oct 22 - Sweden's Atlas Copco Q3 revenue slightly beats estimates, orders up 29%

  • Oct 22 - Sweden's Sandvik Q3 revenue beats estimates on order growth

  • Oct 23 - Sweden's Indutrade Q3 EBITA slightly beats estimates on strong order intake, pricing


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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