Barco - Tough market conditions, Co-CEO has returned
• Disappointing Q3 with sales down 12% and guidance reduced mainly on top line whereas the margin outlook is untouched. Cautious tone for 2024 expected to further impact consensus estimates• Its Co-CEO returned to the office and participated in today's conference call• Shares are in the doldrums with investors requiring more patience. Valuation, though, fully reflects this outlook – Depending on today's share price reaction we put our rating under review.Barco operates in three divisions: Entertainment, which delivers projection, lighting, LED and software solutions for markets such as cinema, venues, and hospitality and the retail and advertising; Enterprise, which targets the corporate and the control rooms market and provides a portfolio of visualization solutions with videowalls, corporate projectors in combination with collaboration software and networking and connectivity capabilities; and Healthcare, which delivers displays for the diagnostic and modality imaging market, including segments such as radiology, mammography, surgery and dentistry along with digital networked solutions for the operating room and point-of-care devices.
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