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James Fisher Share Price Tumbles 20% on a Disappointing Third Quarter Performance

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Shares of James Fisher & Sons PLC (LON: FSJ) collapsed around 20% after the engineering firm said it has continued to face challenges in the third quarter.

James Fisher said it didn’t manage to materialize an improvement in its trading activity in three months to end-September 30. Revenue fell 17% for the first nine months of the year compared to a year-ago period.

“Trading in the third quarter continued to be challenging as the Group did not see the improvement to trading conditions and the seasonal uplift it had been anticipating at the Half Year Results,” the company said in today’s statement.

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Project delays and cancellations in oil & gas and renewables sectors hampered the firm’s Q3 performance.

As a result, the company said it now forecasts that a full-year underlying operating profit will come in the range of £35 million to £40 million.

James Fisher stock price falls on troubling third quarter November 2020

James Fisher share price plunged 20% to 866p and print the lowest levels recorded since 2013.

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Nigel F
Nigel F
Team Member

Nigels tiefes Verständnis der Finanzmärkte basiert auf über 10 Jahren Erfahrung. Nigel wurde bisher zweimal von der FCA (Financial Conduct Authority) autorisiert und hat in der letzten Zeit eine Finanz-Brokerage Firma besessen und verkauft. Er liefert hochaktuelle Analysen und Einsichten in die Finanzmärkte und in die allgemeine Wirtschafts- und Währungspolitik des Vereinigten Königreichs, der USA, Europas und Asiens.