BUZZ-Hexagon shares jump after Q4 beat in tough environment

Reuters
01-31
BUZZ-Hexagon shares jump after Q4 beat in tough environment

** Shares in Hexagon HEXAb.ST rise 7% after the Swedish industrial group posted better-than expected Q4 results, weathering macroeconomic challenges

** It books an adjusted EBIT for Q4 at 450.3 million euros ($468.0 million), against 428 million euros expected by analysts on average

** It touts a return to positive organic growth, while citing "difficult macroeconomic conditions"

** "We would expect some slight upward pressure (~LSD%) to consensus estimates at this stage", J.P.Morgan analysts say

** The broker expects a positive read-across to other product lifecycle management software companies like Dassault DAST.PA, Siemens Digital, PTC PTC.O and Autodesk ADSK.O

** Hexagon shares jump to highest level since April

(Reporting by Boleslaw Lasocki)

((boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))

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