1332 GMT - Vestas consensus earnings expectations will probably be downgraded slightly given the performance needed in the fourth quarter to deliver the company's full-year guidance, Jefferies says. The third quarter report was mixed overall, with power solutions growth slightly ahead of expectations but margin progress below, leaving a lot to do in the fourth quarter, the bank says. A slower recovery in the service business is leading to lower revenues and EBIT for the year. Management highlights elevated warranty provisions and guidance was narrowed to the lower-end, "implying slight downgrades and a very strong EBIT inflection in the fourth quarter." Shares fall nearly 11% to 121.20 Danish kroner. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
November 05, 2024 08:32 ET (13:32 GMT)
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