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| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 4.90 | 2.21% | 226.40 | 225.30 | 227.00 | 227.15 | 222.40 | 222.40 | 762,521 | 16:40:00 |
From May 2019 to May 2024
By Inti Landauro
PARIS--France's Schneider Electric SA (SU.FR), one of the world's biggest suppliers of power equipment and services, Thursday said swings in currencies and the impact of recent asset sales dragged third-quarter revenue lower.
The company said revenue fell 8% to 6.06 billion euros ($6.61 billion) in the three months to end-September from the same period a year ago. Analysts polled by FactSet expected revenues worth EUR6.18 billion.
Schneider Electric attributed the decline mainly to the EUR144 million impact of the depreciation in the Chinese yuan and the British pound and a EUR283 million revenue loss related to the sale of its Juno Lighting and Telvent Transportation units.
Schneider Electric kept its target for flat full-year revenue, excluding a likely EUR800 million hit to sales from unfavorable exchange rates.
The company, which didn't release third-quarter profit figures, did report a 13% rise in net profit in the first half of the year, an improvement attributed to cost-cutting and efficiency chasing by Chief Executive Jean-Pascal Tricoire. The company didn't give any guidance for 2016 net profit.
Write to Inti Landauro at inti.landauro@wsj.com
(END) Dow Jones Newswires
October 27, 2016 02:49 ET (06:49 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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