Schneider Electric 1Q Revenue Rose 12%; Raises 2021 Guidance
April 27 2021 - 1:59AM
Dow Jones News
By Ian Walker
Schneider Electric SE on Tuesday reported a 12% rise in
first-quarter revenue as it benefited from continued demand in its
business and markets, and raised its full-year profit target.
The French energy-management group now expects adjusted earnings
before interest, taxes and amortization to grow between 14% and 20%
organically. This compares with previous guidance of 9% to 15%
growth.
Revenue for the year is expected to grow between 8% and 11%
organically, Schneider said.
The company generated revenue of 6.53 billion euros ($7.89
billion) for the quarter ended March 31 compared with EUR5.83
billion a year earlier and a consensus of EUR6.17 billion, taken
from the company's website and based on 16 analysts' forecasts.
On an organic basis, revenue rose 14%.
"The uncertainty surrounding the rest of 2021 remains, with
recent uptick of Covid-19 contagion in specific countries, and
potential global supply-chain pressures," Chairman and Chief
Executive Jean-Pascal Tricoire said.
However, the board raised full-year guidance to reflect the
strong underlying demand trends witnessed in the first quarter.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
April 27, 2021 01:44 ET (05:44 GMT)
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