Alfa Laval: shares down after results disappoint
(CercleFinance.com) - Swedish engineering group Alfa Laval posted fourth-quarter orders and EBITA that missed the consensus on Tuesday and said it expected demand to be "somewhat higher" in the first quarter.
Earnings before interest, tax and amortisation (adjusted EBITA) rose to 1.79 billion Swedish kronor from 1.61 billion Swedish kronor a year-ago, while order intake reached 11.6 billion Swedish kronor, up 18% from 9.8 billion kronor.
However, UBS analysts noted that the company underwhelmed "for the first time in a while."
"First-quarter guidance seems OK," the broker said, but "fourth-quarter results should be a negative surprise to the market given order and EBITA misses," UBS added.
Unsurprisingly, the shares are down over 5% after this report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Earnings before interest, tax and amortisation (adjusted EBITA) rose to 1.79 billion Swedish kronor from 1.61 billion Swedish kronor a year-ago, while order intake reached 11.6 billion Swedish kronor, up 18% from 9.8 billion kronor.
However, UBS analysts noted that the company underwhelmed "for the first time in a while."
"First-quarter guidance seems OK," the broker said, but "fourth-quarter results should be a negative surprise to the market given order and EBITA misses," UBS added.
Unsurprisingly, the shares are down over 5% after this report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.