Sartorius reported weak Q3 23 preliminary numbers while also issuing a second profit warning for FY23, citing longer-than-expected inventory rationalisation and the weak demand recovery. Moreover, the firm is also reviewing its mid-term (FY25) outlook. Although the double-digit decline in the share price (-11% at pixel time) is likely an over-reaction, the uncertainty around the mid-term outlook may well scuttle any near-term recovery.
