Legrand : Q3 slightly weaker than expected, the 2024 margin target has been lowered
>9M 2024: sales down 0.8% on an organic basis, adjusted EBIT down -110bp - Legrand this morning reported 9M 2024 earnings slightly short of expectations. The group notably posted an organic 0.8% decline in sales (consensus at -0.7% and ODDO BHF at -0.6%). In Q3 alone, growth reached 1.7% (consensus 2.0%). By region, it remains negative in Europe in Q3 (-4.1% vs -1.2% for the consensus), despite comparison bases supposedly being more favourable. Conversely, it remains...Legrand is a global specialist in electrical and digital building infrastructure based in France. Co. offers a full range of control-and-command, cable management, energy distribution and "Voice-Data-Image" products and systems which are suitable for the international commercial, industrial, and residential segments of the low voltage market. Co. markets its products under internationally recognized general brand names, including Legrand and Bticino. Each product group is marketed in all of Co.'s major geographic markets (France, Italy, Rest of Europe, USA/Canada and Rest of the World).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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