Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Sweden
  4. Nasdaq Stockholm
  5. Epiroc AB (publ)
  6. News
  7. Summary
    EPI A   SE0015658109

EPIROC AB (PUBL)

(EPI A)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

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)


ę Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
ATLAS COPCO AB -4.02% 553.8 Delayed Quote.37.02%
CREDIT SUISSE GROUP AG -3.48% 8.88 Delayed Quote.-19.30%
EPIROC AB (PUBL) -2.91% 213.6 Delayed Quote.194.02%
JASON CO., LTD. -0.41% 482 End-of-day quote.-27.84%
SANDVIK AB -4.93% 227.4 Delayed Quote.18.83%
All news about EPIROC AB (PUBL)
11/18Epiroc's ambitious climate targets validated as science based
AQ
11/18Epiroc Receives Validation by the Science Based Targets Initiative for its Ambitious Ta..
CI
11/03Epiroc completes acquisition of specialist in mining vehicle battery conversions
AQ
11/02Epiroc acquires remaining share of Mobilaris MCE
AQ
11/02Epiroc AB acquired remaining 66% stake in Mobilaris MCE AB from Mobilaris AB.
CI
10/29Epiroc speeds up mining electrification with global roll-out of diesel-to-battery conve..
AQ
10/29Epiroc Speeds Up Mining Electrification with Global Roll-Out of Diesel-To-Battery Conve..
CI
10/27LKAB is charging up for battery-powered machinery under ground
AQ
10/21EPIROC : interim report Q3 2021
AQ
10/21Epiroc Approves Dividend, November 2, 2021
CI
More news
Analyst Recommendations on EPIROC AB (PUBL)
More recommendations
Financials
Sales 2021 39 588 M 4 325 M 4 325 M
Net income 2021 6 918 M 756 M 756 M
Net cash 2021 3 362 M 367 M 367 M
P/E ratio 2021 37,0x
Yield 2021 1,46%
Capitalization 243 B 26 703 M 26 569 M
EV / Sales 2021 6,06x
EV / Sales 2022 5,20x
Nbr of Employees 15 198
Free-Float 81,1%
Chart EPIROC AB (PUBL)
Duration : Period :
Epiroc AB (publ) Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends EPIROC AB (PUBL)
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Last Close Price 213,60 SEK
Average target price 205,90 SEK
Spread / Average Target -3,60%
EPS Revisions
Managers and Directors
Helena Hedblom President, Chief Executive Officer & Director
Anders LindÚn Chief Financial Officer, SVP-Controlling & Finance
Ronnie Leten Chairman
Ylva Lindquist Vice President-Compliance
Anders Gerhard Ullberg Independent Director
Sector and Competitors
1st jan.Capi. (M$)
EPIROC AB (PUBL)194.02%27 703
PACCAR, INC.2.83%30 802
TOYOTA INDUSTRIES CORPORATION18.19%26 756
KUBOTA CORPORATION8.91%26 057
CNH INDUSTRIAL N.V.39.10%24 188
KOMATSU LTD.-3.18%23 290