Schneider Electric Raises Guidance as 3Q Revenue Rose
25 Ottobre 2018 - 7:59AM
Dow Jones News
By Nathan Allen
Schneider Electric SE (SU.FR) said Thursday that it has raised
its 2018 guidance after reporting better-than-expected
third-quarter revenue.
Revenue for the quarter rose to 6.38 billion euros ($7.29
billion) from EUR5.90 billion a year earlier, the company said.
Analysts expected revenue of EUR6.31 billion according to a
FactSet-compiled consensus.
Based on the solid third-quarter results, Schneider raised its
target for 2018 organic sales growth to 6% from a previous estimate
of between 5% and 6%.
The group also now expects organic growth in adjust earnings
before interest, taxes, depreciation and amortization of between 8%
and 9%, compared with an earlier forecast of between 7% and 8%.
"For the end of the year, the group expects to benefit from its
balanced exposure to end-markets and
geographies," Chief Executive Jean-Pascal Tricoire said.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
October 25, 2018 01:44 ET (05:44 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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