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Investing.com -- Krones (ETR:KRNG) AG stock dropped 7% following the company’s second quarter earnings report, which showed sales and EBIT figures falling short of market expectations due to sales phasing in a quarter with fewer working days.
The German packaging and bottling machine manufacturer reported core sales 6% below consensus estimates with margins 10 basis points below expectations. Its Process Technology segment also underperformed with sales 6% below forecasts and margins missing by 10 basis points. The Intralogistics division was a bright spot, with sales in line with expectations and margins exceeding consensus by 260 basis points.
Despite the quarterly miss, Krones confirmed its 2025 sales growth guidance of 7-9%, implying a sales range of €5,664-5,770 million. The company also maintained its EBITDA margin target of 10.2-10.8%, suggesting a mid-point of approximately €600 million. Krones continues to expect a book-to-bill ratio of around 1.
"While we would not get hung up on the Q2 miss we think it is fair to expect some consolidation of the shares on the back of the report," UBS analysts noted in their commentary on the results.
Order intake for the quarter was reportedly in line with UBS estimates, though possibly below broader market consensus, for which precise data was not available.
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