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Sweden's Skanska Q3 revenue beats on construction segment growth

By Reuters News


Overview

  • Sweden construction group's Q3 revenue rose 12% yr/yr, beating analyst expectations

  • Q3 operating income increased but missed analyst estimates

  • Order bookings reached all-time high, driven by strong construction segment


Outlook

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


Result Drivers

  • CONSTRUCTION SEGMENT - Co said strong performance in Construction drove revenue growth and all-time-high order bookings

  • IMPAIRMENT CHARGES - Co said operating income in Project Development was hurt by impairment charges in Commercial Property and Residential Development


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

SEK 49.40 bln

SEK 47.25 bln (3 Analysts)

Q3 EPS

SEK 4.14

Q3 Operating Income

Miss

SEK 2.10 bln

SEK 2.32 bln (3 Analysts)

Q3 Adjusted Free Cash Flow

SEK 2.80 bln

Q3 Orders

SEK 68 bln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the construction & engineering peer group is "buy"

  • Wall Street's median 12-month price target for Skanska AB is SEK297.00, about 3.7% above its November 4 closing price of SEK286.40

  • The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 15 three months ago


Reuters Recommended Reads

  • Nov 5 - Norway's NRC Group Q3 revenue flat, EBIT rises on Finland demand

  • Nov 4 - Construction firm NYAB Q3 operating profit rises on order intake

  • Nov 5 - Construction firm Merko Ehitus Q3 profit declines on higher fuel, energy costs


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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