Palantir shares slip by 7% despite posting record revenue in third quarter
Investing.com -- Spie SA (EPA:SPIE) shares fell more than 4% on Friday after the French technical services company reported weaker-than-expected third-quarter growth and kept its full-year 2025 outlook unchanged.
Spie’s organic revenue growth rose 1.8% in the third quarter, below the 3.0% consensus estimate.
Quarterly revenue totaled €2.54 billion, about 1% under the expected €2.58 billion, and was up 4.7% from a year earlier.
The company said mergers and acquisitions and disposals contributed a net gain of 3.2%, while foreign exchange effects reduced revenue by 0.2%.
Growth slowed across key regional markets, with Germany, North-Western Europe and the Global Energy Services division all missing expectations.
In Germany, organic growth was 2.1%, compared with 5.0% expected and 6.6% in the second quarter.
Jefferies noted that “underlying trends remain positive but phasing on HV and Fibre roll-outs, as well as a more challenging Industry Services operating environment,” contributed to the slowdown.
North-Western Europe recorded 3.2% organic growth, below the 5.8% consensus and down from 8.1% in the previous quarter.
The Netherlands remained “still solid,” the brokerage said. Global Energy Services improved sequentially to a 0.2% decline from a 6.5% drop in the second quarter, but the division’s result fell short of the 2% expected gain.
France, Spie’s home market, continued to post negative growth but showed signs of stabilization.
Organic revenue declined 1%, matching analyst expectations and improving from a 2% fall in the second quarter.
Jefferies said performance in France was “still impacted by the subdued macro backdrop in the country, but helped by easing comps.”
Central Europe was the only region to exceed expectations, posting 9.9% growth versus a 6% forecast and reversing a 4% decline in the previous quarter. Jefferies attributed the result to a “positive inflection in Poland/Slovakia due to HV.”
Despite the weaker third quarter, Spie reaffirmed its full-year 2025 guidance. The company continues to target revenue above €10 billion, compared with a consensus of €10.5 billion, and maintains its margin expectation of “at least 7.6%.”
Jefferies said that while the guidance “remains achievable,” the slowing pace of organic growth “may drive some easing in consensus expectations into FY26 on organic growth.”