Aebi Schmidt Shares Rise After Swinging to 2Q Profit, Sales Beat Estimates

Dow Jones
Aug 14
 

Shares of Aebi Schmidt rose after the industrial manufacturing company swung to a second-quarter profit and sales beat estimates.

The stock was up 10% to $14.35 in recent trading, and rose 13% since the start of the year.

The company posted net income of $10.5 million compared with a loss of $7.9 million a year earlier.

Sales rose to $496.4 million from $453.7 million the year prior. Analysts polled by FactSet expected $474.7 million.

Chief Financial Officer Marco Portmann said the company upheld strong momentum driven by airport, walk-in van and municipal segments.

 
 

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