Bekaert : Lowered 2024 sales and EBIT guidance but new SBB started
>Weaker than expected sales and volumes in Q3 (miss of 3%) - Bekaert’s Q3 sales missed css by 3%, driven by RR (miss of 3%), SWS (a miss of 6%) and Specialty (a miss of 5%) with only BBRG beating (a beat of 3%). Volumes in Q3 were down 5.2% vs -2.7% in Q2 and -4.9% in Q1 so a clear deterioration driven primarily by RR (-4.4% in Q3 vs -2.3% in Q2) and SWS (-7.7% vs -3.4% in Q2). Europe and China were weak (RR particularly in trucks) while there have been delays in proj...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.
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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