50% EBIT Growth in 2Q Is Not Enough to Satisfy Stora Enso Shareholders; Shares Still Overvalued
Despite delivering another quarter of blowout EBIT growth, no-moat Stora Enso shares are trading down sharply, around 10% at time of writing. The company reported second-quarter EBIT of EUR 327 million, up 50% over 2017. Still, this was not enough to meet consensus estimates. More importantly, the outlook for third-quarter EBIT of “in line with the second quarter†was well below consensus expectations. The unusually warm weather conditions in Europe this summer are mostly to blame, although the ...Stora Enso is a provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Co.'s reporting segments are: Consumer Board, which develops and provides consumer packaging boards for printing and packaging applications; Packaging Solutions, which develops fibre-based packaging; Biomaterials, which provides a variety of pulp grades for paper, board, tissue, textile and hygiene product producers; Wood Products, which provides wood-based solutions for building and housing; Paper, which provides paper solutions for print media and office use; as well as Other, which includes Co.'s shareholding in the energy company, Pohjolan Voima.
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