Legrand : Good Q3 expected, 2020 guidance likely to be cautious
>Q3 2020e: expectations probably low after a relatively disappointing H1, we are more optimistic than the consensus - Unlike a number of its competitors, Legrand produced only a very slight upside surprise at the H1 results presentation (adjusted EBIT 4.5% above forecasts) and even disappointed on FCF (down 31% in H1). Expectations have therefore partly transferred to H2, bearing in mind that the guidance offers only limited comfort with the group indicating a sequent...Legrand is a global specialist in electrical and digital building infrastructure based in France. Co. offers a full range of control-and-command, cable management, energy distribution and "Voice-Data-Image" products and systems which are suitable for the international commercial, industrial, and residential segments of the low voltage market. Co. markets its products under internationally recognized general brand names, including Legrand and Bticino. Each product group is marketed in all of Co.'s major geographic markets (France, Italy, Rest of Europe, USA/Canada and Rest of the World).
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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