Henkel Shares Fall After Guiding Outlook to Lower End of Expectations -- Update
2021年11月8日 - 7:05PM
Dow Jones News
By Ed Frankl
Shares in Henkel AG & Co. KGaA fell sharply on Monday after
it issued a more downbeat outlook for the full year on continued
raw-material and supply-chain woes.
At 0926 GMT shares were down 5.1% at EUR76.66.
At its third-quarter earnings release, the German consumer-goods
company confirmed its 2021 outlook for organic growth at 6%-8%, but
said its full-year adjusted earnings before interest and taxes
margin and adjusted earnings per share would be at the lower end of
its previously guided ranges, due to additional negative impacts
from increased raw-material and transport costs.
"The effects of the global [coronavirus] crisis, the extremely
tense situation on raw-material markets and disruptions in global
supply chains continued to have a strong impact on our market
environment in the third quarter," Henkel Chief Executive Carsten
Knobel said.
Henkel said its full-year adjusted EBIT margin is now expected
at 13.5%, from 13.5% to 14.5% previously, with an adjusted EPS
increase in the high single-digit percentage range, from high
single-digit to mid-teens percentage range beforehand.
The new EPS guide implies 5%-6% consensus EPS downgrades at
constant currencies, analysts at Jefferies said.
The Dusseldorf-based company also said third-quarter sales rose
1.9% year-on-year to 5.09 billion euros ($5.89 billion) and were up
3.5% on an organic basis.
Sales matched expectations and topped views of 2.6% in organic
sales growth, according to analysts' estimates provided by the
company.
The beat was driven by Henkel's adhesive technologies segment,
it said, which grew 7.1%, where three of its four businesses posted
strong growth, with only the automotive and metals business falling
short as the global shortage of semiconductors hit auto
production.
The company said demand in the consumer businesses continued to
normalize, and that there was a continuing recovery in its
industrial-production business.
Meanwhile at Henkel's beauty care segment, sales fell 6.5%,
while in laundry and home care sales dipped 0.8%, the company
said.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
November 08, 2021 04:50 ET (09:50 GMT)
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