Carlsberg Consensus Earnings Revisions Likely to be Limited
Dow Jones
Aug 19
0847 GMT - Carlsberg consensus earnings revisions are likely to be flat to slightly positive after the brewer narrowed its guidance toward the upper end of the range, J.P. Morgan analysts write. The company now expects organic operating profit growth of 4%-6% from 2%-6% previously, while consensus for the year is already at 5.1%, the bank adds. Carlsberg's second-quarter organic sales growth of 2.1% missed consensus that was looking for 2.6%, on weakness in Asia. China beer volumes fell 6% in the quarter. The Britvic acquisition and pivot to soft drinks are supporting bottom-line growth, but China may remain a point of concern into the second half while the weather in Europe could be supportive in the third quarter. Shares fall 3.7%.
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