Alfa Laval: shares rise after 'impressive' third quarter
(CercleFinance.com) - Swedish engineering group Alfa Laval posted better-than-expected third-quarter earnings on Thursday and said that it expects demand to be "somewhat higher" in the fourth quarter.
Adjusted EBITA rose by 33% to 1.7 billion Swedish kronor, from 1.3 billion Swedish kronor a year ago, the company said in a statement.
Net sales grew by 24% to 10.1 billion Swedish kronor, while order intake jumped by 35% to 11.3 billion kronor.
Analysts at UBS hailed "another impressive delivery and outlook."
"Alfa delivers on almost everything in the quarter again and its better short-term outlook is the icing on the cake," the broker said.
"Only weaker spot was energy this quarter," it added.
The Alfa Laval share was up 4.1% at 224.4 Swedish kronor on the Nasdaq Nordic market after the quarterly report.
Alfa Laval sells industrial products such as heat exchangers and ballast water treatment to clients in sectors such as energy and marine.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Adjusted EBITA rose by 33% to 1.7 billion Swedish kronor, from 1.3 billion Swedish kronor a year ago, the company said in a statement.
Net sales grew by 24% to 10.1 billion Swedish kronor, while order intake jumped by 35% to 11.3 billion kronor.
Analysts at UBS hailed "another impressive delivery and outlook."
"Alfa delivers on almost everything in the quarter again and its better short-term outlook is the icing on the cake," the broker said.
"Only weaker spot was energy this quarter," it added.
The Alfa Laval share was up 4.1% at 224.4 Swedish kronor on the Nasdaq Nordic market after the quarterly report.
Alfa Laval sells industrial products such as heat exchangers and ballast water treatment to clients in sectors such as energy and marine.
Copyright (c) 2018 CercleFinance.com. All rights reserved.