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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Epiroc AB    EPI A   SE0011166933

EPIROC AB

(EPI A)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe Europe - 01/28 04:07:21 am
158.55 SEK   -1.98%
01/26Epiroc's Q4 Revenue Tumbles 5% On Lower Equipment Volumes Amid COVID-19
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01/26EPIROC : Interim report Q4 2020
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01/21EPIROC AB : annual earnings release
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Epiroc's third-quarter earnings miss and order fall hits shares

10/25/2019 | 04:35am EST

STOCKHOLM (Reuters) - Sweden's Epiroc reported a smaller-than-expected third-quarter operating profit rise and a fall in organic order intake, sending shares in the mining equipment maker down 9% early on Friday.

"Equipment orders from infrastructure customers were particularly soft," CEO Per Lindberg said in a statement.

"Our mining customers are cautious and investment decisions are being postponed."

The company, spun off from Atlas Copco in 2018, said organic order intake fell 6% and warned it expected demand in the final months of 2019 to remain at about the same level as in the third quarter.

"The economic environment continues to be uncertain," Lindberg said.

In contrast, rival Sandvik beat earnings forecasts last week and posted a 5% rise in organic order intake at its mining unit.

"Overall we view this as a soft set of results and particularly in the context of the strong run in the share price into results," Credit Suisse said in a research note on Epiroc.

"The demand outlook guide does not support Q4 orders and we expect the shares to be weak today." JP Morgan analysts said.

Epiroc said it had cut staffing in recent months, mainly in manufacturing, and had identified further efficiency action which would be carried out in the coming quarters.

Restructuring accounted for much of the 233 million crowns in non-recurring costs recorded in the quarter, a hit missed by most analysts.

As a result, operating profit edged up to 1.93 billion Swedish crowns ($199.7 million) from 1.90 billion, short of the 2.24 billion expected by analysts, according to Refinitiv data.

($1 = 9.6635 Swedish crowns)

(Reporting by Johannes Hellstrom; editing by Niklas Pollard and Jason Neely)


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
ATLAS COPCO AB -2.62% 450.9 Delayed Quote.9.81%
CREDIT SUISSE GROUP AG -2.37% 11.535 Delayed Quote.3.46%
EPIROC AB -2.01% 158.75 Delayed Quote.8.09%
JASON CO., LTD. -0.61% 654 End-of-day quote.-2.10%
SANDVIK AB -2.85% 208.8 Delayed Quote.6.46%
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Financials
Sales 2020 35 817 M 4 277 M 4 277 M
Net income 2020 5 219 M 623 M 623 M
Net cash 2020 4 461 M 533 M 533 M
P/E ratio 2020 37,2x
Yield 2020 1,65%
Capitalization 189 B 22 631 M 22 566 M
EV / Sales 2020 5,15x
EV / Sales 2021 4,81x
Nbr of Employees 13 902
Free-Float 81,1%
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Technical analysis trends EPIROC AB
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 155,21 SEK
Last Close Price 161,75 SEK
Spread / Highest target 15,0%
Spread / Average Target -4,04%
Spread / Lowest Target -32,6%
EPS Revisions
Managers and Directors
NameTitle
Helena Hedblom President, Chief Executive Officer & Director
Ronnie Leten Chairman
Anders Lindén Chief Financial Officer, SVP-Controlling & Finance
Anders Gerhard Ullberg Independent Director
Johan Patrik Lennart Forssell Independent Director
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