By Maitane Sardon
Ams-Osram shares fell on Thursday after the company reported fourth-quarter revenue guidance that missed consensus estimates.
The sensor maker said it expects fourth-quarter revenue to decrease due to seasonal mix effects and land in a range of between 810 million and 910 million euros ($869.2 million-$978 million), or 860 million euros at the mid-point. The figures are 6.9% below consensus estimates, JP Morgan analysts said in a note.
The company said it expects flattish demand for its automotive semiconductor products in the quarter, reflecting uncertainties in the global automotive supply chain. It expects an adjusted earnings before interest, taxes, depreciation and amortization margin between 15% and 18%, driven by lower revenue and some cost headwinds, it said, noting that 4Q guidance is based on a euro to U.S. dollar rate of 1.10.
At 0945 GMT, shares traded 8.1% lower at 7.32 Swiss francs.
Third-quarter sales fell 3% on year to 881 million euros. The figure came in 0.6% above consensus and in line with the company's guidance at the mid-point, JP Morgan said.
"Following today's print, we expect FY24 revenue consensus to decline 2% and Ebitda consensus to decline around 5%," it added.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
November 07, 2024 05:08 ET (10:08 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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