0708 GMT - Executives at Ray-Ban maker EssilorLuxottica were keen to present third-quarter results as a blip rather than a trend, guiding for faster growth in the fourth quarter after missing expectations in the third, Bernstein analysts say in a note to clients. "Near-term expectations will likely be raised after these messages--it is now up to management to deliver, particularly with valuation above recent averages," the analysts say. The European eyewear group's organic revenue growth fell short of consensus expectations in the third quarter, but it still expects margin improvement to accelerate this year, Bernstein says. Shares fall 2%. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
October 18, 2024 03:08 ET (07:08 GMT)
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