PLUS1
| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Schneider Electric SE | EU:SU | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.78 | 0.62% | 125.62 | 125.00 | 128.90 | 128.32 | 125.12 | 125.76 | 1,011,098 | 16:40:00 |
Schneider Electric 1Q Revenue Rose 12%; Raises 2021 Guidance
27/04/2021 6:59am
Dow Jones News
Schneider Electric (EU:SU)
Historical Stock Chart
From May 2020 to May 2022
By Ian Walker
Schneider Electric SE on Tuesday reported a 12% rise in first-quarter revenue as it benefited from continued demand in its business and markets, and raised its full-year profit target.
The French energy-management group now expects adjusted earnings before interest, taxes and amortization to grow between 14% and 20% organically. This compares with previous guidance of 9% to 15% growth.
Revenue for the year is expected to grow between 8% and 11% organically, Schneider said.
The company generated revenue of 6.53 billion euros ($7.89 billion) for the quarter ended March 31 compared with EUR5.83 billion a year earlier and a consensus of EUR6.17 billion, taken from the company's website and based on 16 analysts' forecasts.
On an organic basis, revenue rose 14%.
"The uncertainty surrounding the rest of 2021 remains, with recent uptick of Covid-19 contagion in specific countries, and potential global supply-chain pressures," Chairman and Chief Executive Jean-Pascal Tricoire said.
However, the board raised full-year guidance to reflect the strong underlying demand trends witnessed in the first quarter.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
April 27, 2021 01:44 ET (05:44 GMT)
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