EssilorLuxottica’s Q3 performance was ahead of our as well as market estimates. Positive momentum was witnessed in both business segments (PS and DTC). Once again, the top-line growth (at constant currency) was led by North America. We do not expect the global supply-chain issues to impact considerably a vertically-integrated and innovation-led firm like EL. The improved outlook is also reassuring for the investor community. We will improve the estimates and target price.
31 Oct 2021
Strong Q3 performance; sustainable momentum
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Strong Q3 performance; sustainable momentum
EssilorLuxottica’s Q3 performance was ahead of our as well as market estimates. Positive momentum was witnessed in both business segments (PS and DTC). Once again, the top-line growth (at constant currency) was led by North America. We do not expect the global supply-chain issues to impact considerably a vertically-integrated and innovation-led firm like EL. The improved outlook is also reassuring for the investor community. We will improve the estimates and target price.