BE Semiconductor: Q3 guidance came out well below consensus
BE Semiconductor: (UNDER REVIEW vs. BUY, Fair Value UNDER REVIEW vs. EUR37.9)Q3 guidance came out well below consensus
This morning, Besi reported Q2 2018 revenue of EUR161m, in line with the company updated guidance following the profit warning earlier this month. EBIT came at EUR59.3m (EBIT margin of 36.8%), yielding EPS of EUR0.58, i.e. 4.5% above Street's expecations (at EUR0.56). However, Q3 2018 sales guidance came out well below consensus with an expected sequential decrease between 25% and 30%, compared to 4% estimated by the consensus. High-end smartphone and computing equipment spending are running out of steam for Besi. We put both our fair value and recommendation Under Review.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.