Legrand delivered a strong beat across the board in its Q1 figures. Organic growth was nearly twice the consensus estimate and FCF generation in the quarter was exceptionally robust. Revenue growth was supported by strong pricing as volumes were almost flat. The former, in conjunction with cost control, helped deliver an outstanding margin during the quarter. But, despite this solid start, the group left its outlook unchanged citing end-market and input inflation uncertainties for the remainder ....
04 May 2023
Unchanged outlook neutralises solid Q1 performance, we reiterate our Add rating
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Unchanged outlook neutralises solid Q1 performance, we reiterate our Add rating
Legrand (LR:EPA), 0 | Legrand SA (LR:PAR), 0
- Published:
04 May 2023 -
Author:
Kulwinder Rajpal -
Pages:
3 -
Legrand delivered a strong beat across the board in its Q1 figures. Organic growth was nearly twice the consensus estimate and FCF generation in the quarter was exceptionally robust. Revenue growth was supported by strong pricing as volumes were almost flat. The former, in conjunction with cost control, helped deliver an outstanding margin during the quarter. But, despite this solid start, the group left its outlook unchanged citing end-market and input inflation uncertainties for the remainder ....