- (PLX AI) - Uponor shares fell more than 13% after earnings missed by 20% due to supply chain issues in North America.
- • Q3 adjusted EBIT EUR 38.1 million vs. estimate EUR 48 million, with revenue of EUR 321 million below estimates of EUR 338 million
- • North America division's net sales increased, while operating profit decreased
- • Supply chain shortages created challenges for our production and logistics optimization, which together with increased input and freight costs decreased profitability, the company said
- • After a string of stronger-than-expected quarterly results, the big earnings miss in Q3 is a disappointment and is likely to hurt sentiment at least for a while, Carnegie said
- • However, a share price drop of more than 5% would be an overreaction, considering Uponor's strong balance sheet and low valuation, Carnegie said
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