0925 GMT - Ams-Osram's cut to 4Q guidance means full-year earnings could decline around 5%, JPMorgan analysts said in a note. The company reported 3Q results that beat expectations, with sales of 881 million euros and adjusted EBIT of 82 million euros. Earnings came in 10.7% above consensus. However, the sensor maker said it expects 4Q revenue of between 810 million euros and 910 million euros, or 860 million euros at mid-point, which is 6.9% below estimates, JPMorgan said. The company said it expects flattish demand for automotive semi products reflecting uncertainties in global automotive supply chain. "Following today's print, we expect FY24 revenue consensus to decline 2% and Ebitda consensus to decline around 5%," JPMorgan said. (maitane.sardon@wsj.com)
(END) Dow Jones Newswires
November 07, 2024 04:25 ET (09:25 GMT)
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