April 19, 2018 / 5:41 AM / a year ago

CORRECTED-Schneider Electric beats Q1 revenue forecast on upbeat China demand

(Corrects adj. EBITA range in last para to 4-7 pct (not 4-5 pct)

April 19 (Reuters) - Schneider Electric, a French electrical equipment maker, beat market expectation with a 6.2 percent organic growth in first-quarter revenue, buoyed by upbeat performance of its two businesses and strong demand in China.

The company continued the positive momentum seen at the end of 2017, reporting revenue of 5.80 billion euros ($7.18 billion) for the January-March period.

Analysts polled for Reuters expected an average revenue of 5.67 billion euros, resulting in an organic growth of 3.61 percent.

The firm reiterated its annual forecast of adjusted EBITA organic growth towards the upper end of the 4 percent-7 percent range on revenue growing 3 percent-5 percent organically. The adjusted EBITA margin is seen at the upper end of the 20-50 basis point range.

$1 = 0.8078 euros Reporting by Cyril Altmeyer in Paris and Piotr Lipinski in Gdynia; Editing by Sherry Jacob-Phillips

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below