BUZZ — Nordex shares surge after margin guidance hike, earnings beat
(Updates share move in bullet 1, adds milestones in bullet 6 and peer share reaction in bullet 7) * Shares in Nordex jump 14% after the onshore wind turbine maker posted a better-than-expected Q3 core profit and lifted its full-year margin forecast on Thursday * The German manufacturer expects an annual EBITDA margin of 11.5% to 12.5%, up from the previously communicated range of 8% to 11% * "We would expect a positive knock-on effect on 2027 consensus estimates and beyond," Citi says * Nordex says its Q3 EBITDA roughly doubled year-on-year to €278 million ($312 million), beating a company-compiled consensus by 15% * Citi says it expects a positive share reaction on Friday after "weak trading" in recent months * The stock, which has lost a fifth of its value since early May, is on track for its best day since February * Shares in Danish peer Vestas rise 3.3% at 0715 GMT ($1 = 0.8909 euros) (Reporting by Danny Callaghan) ((danny.callaghan@thomsonreuters.com)
(Updates share move in bullet 1, adds milestones in bullet 6 and peer share reaction in bullet 7) * Shares in Nordex jump 14% after the onshore wind turbine maker posted a better-than-expected Q3 core profit and lifted its full-year margin forecast on Thursday * The German manufacturer expects an annual EBITDA margin of 11.5% to 12.5%, up from the previously communicated range of 8% to 11% * "We would expect a positive knock-on effect on 2027 consensus estimates and beyond," Citi says * Nordex says its Q3 EBITDA roughly doubled year-on-year to €278 million ($312 million), beating a company-compiled consensus by 15% * Citi says it expects a positive share reaction on Friday after "weak trading" in recent months * The stock, which has lost a fifth of its value since early May, is on track for its best day since February * Shares in Danish peer Vestas rise 3.3% at 0715 GMT ($1 = 0.8909 euros) (Reporting by Danny Callaghan) ((danny.callaghan@thomsonreuters.com)