Free Trial

Sandvik (A-): 1Q24 Results

CAPITAL GOODS

A miss but unlikely to be market moving


• Revenue and adj. EBITA missed consensus by 4.5% and 8.5% with both volumes and margins disappointing. They describe the quarter as “mixed” and also blame calendar effects.

• FY capex forecast is in line with expectations, and they expect to hit margin targets for the full year. The company doesn’t provide full performance forecasts, but they see stable to positive customer sentiment.

• Operating cash flow was 28% better than expected due to working capital release.

• Leverage at 1.3x vs 1.2x YoY.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.