Jump to content
  • 0
Sign in to follow this  
Grace A

How did Gerresheimer perform in the second quarter and how are traders reacting to the earnings announcement?

Question

1 answer to this question

Recommended Posts

  • 0

Shares of Gerresheimer AG (ETR:GXI) are soaring by more than 8% on Thursday after the German pharmaceutical packaging firm reported more than a 140% surge in net income for the second quarter and reiterated its full-year revenue guidance.

Gerresheimer, the German-based manufacturer of primary packaging products for medication reported a net profit of €47.1m for the three months to 31st May compared with €19.3m in the previous year. Likewise, the quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA) surged by 38% to €99.4m while revenues rose 7.2% to €356.5m respectively.

Gerresheimer maintained its revenue outlook of €1.40-1.45bn for full-year 2019 while it anticipated adjusted EBITDA to come in at around €295m, +/- €5m, excluding the €118.5m already accounted for from the acquisition of Sensile Medical.

At 12.30pm GMT on Thursday, shares of Gerresheimer were trading at €70.65, soaring 8.61% for the session. The company’s stock has had a rollicking year with prices jumping more than 23% YTD compared to the 17% gains on the DAX 30.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×
×
  • Create New...