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)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.