Schindler Holding AG Reports Q1 2024 Results: Revenue In Line, EPS Beats Forecasts

Schindler Holding AG reports strong Q1 2024 results, exceeding EPS expectations, with analysts maintaining their positive outlook for the full year.

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Schindler Holding AG Reports Q1 2024 Results: Revenue In Line, EPS Beats Forecasts

Schindler Holding AG Reports Q1 2024 Results: Revenue In Line, EPS Beats Forecasts

Schindler Holding AG, a leading global manufacturer of elevators and escalators, announced its financial results for the first quarter of 2024. The company reported revenue of CHF2.7 billion, which was in line with analysts' forecasts. Earnings per share (EPS) came in at CHF2.05, surpassing expectations by 8.2%.

Following the release of the Q1 results, analysts have maintained their outlook for Schindler Holding AG for the full year 2024. The consensus estimates project revenue of CHF11.5 billion and EPS of CHF8.59 for the year. The analysts' price target for the company's stock remains unchanged at CHF232.

The analysts' forecasts suggest that Schindler Holding AG is expected to continue its historical revenue growth trends, although at a slower pace compared to the broader industry. Despite the slight underperformance relative to industry peers, the company's Q1 results have not significantly altered the overall sentiment among analysts.

The reaffirmation of the 2024 outlook and price target indicates that Schindler Holding AG's performance is generally in line with the analysts' previous earnings per share estimates. The company's ability to meet revenue expectations and exceed EPS forecasts in the first quarter has provided a solid foundation for the remainder of the year.

Why this matters: Schindler Holding AG's Q1 2024 results provide insights into the company's financial health and growth prospects within the elevator and escalator industry. As a major global player, Schindler's performance can serve as a bellwether for the sector and influence investor sentiment.

Looking ahead, investors and industry observers will closely monitor Schindler Holding AG's performance in the coming quarters to assess whether the company can maintain its revenue growth and profitability. The stable outlook from analysts suggests that Schindler is well-positioned to navigate the challenges and opportunities in the market, while continuing to deliver value to its shareholders.

Key Takeaways

  • Schindler Holding AG reported Q1 2024 revenue of CHF2.7B, in line with forecasts.
  • Q1 EPS of CHF2.05 surpassed expectations by 8.2%.
  • Analysts maintained 2024 outlook: revenue of CHF11.5B, EPS of CHF8.59.
  • Analysts' price target for Schindler stock remains unchanged at CHF232.
  • Schindler's Q1 results provide a solid foundation for the remainder of 2024.