GCIdiscoverIE: Edison
Electrical components - LSE - Mcap: £702m - Price: 729p - Flash
FY25 earnings expectations maintained
(DSCV ) Q125 trading update confirmed that underlying earnings expectations for FY25 are unchanged. While the Q125 revenue decline reflects the lower bookings environment in previous quarters, book-to-bill was above one and bookings increased organically year-on-year despite ongoing destocking by customers in the industrial market. Robust gross margins and a well-controlled cost base support the company’s 13.5% target operating margin for FY25 and we maintain our forecasts.
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