Bekaert Feedback conference call
Below are the highlights of the conference call. We remind that Bekaert's 3Q sales came in below our and consensus forecasts while the FY23 sales and uEBIT margin guidance are also below our expectations, with at midpoint of the range uEBIT guidance falling 3% short to our forecasts and 4% short to consensus. Despite the tougher short term momentum, we maintain our BUY rating on the attractive valuation and strong balance sheet, with a second € 120m share buyback program currently in execution.Bekaert is a global technological and market company engaged in advanced solutions based in steel wire transformation and coatings as well as an independent manufacturer of drawn steel wire products. In addition, Co. teams up with customers and suppliers globally to develop, implement, upgrade, and protect both current and future technologies. Co.'s business activities are put in practice along two main axes: Product Innovation and Process Innovation. Product Innovation helps Co. better serve its customers, while Process innovation enables Co. to increase operational effectiveness, minimizing its impact on the environment.
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