On August 5, INNIO Holding GmBH rose 6.49% in regular trading, trading at 26.565 USD/share, with turnover of approximately $67.99 million. The rally was driven by a combination of better-than-expected Q2 results, a major order win, and an analyst upgrade.
The company reported Q2 adjusted EPS of $0.08, beating the consensus estimate of $0.06 by 33%. Revenue came in at $937.7 million, up 42% year-over-year and exceeding analyst expectations of $881.7 million by approximately 6%. Full-year revenue guidance was set at $3.8 billion to $3.9 billion, above the FactSet consensus of $3.79 billion.
Alongside the earnings release, INNIO Holding GmBH announced a roughly 1.1-gigawatt gas engine order for mega-scale data center campuses, booked in Q2 and to be delivered in phases, providing multi-year revenue visibility. Subsequently, RBC upgraded the stock to Outperform from Sector Perform, with a price target of $35. The average analyst rating stands at overweight with a mean target of $38.70.
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