Enersense International

Enersense's Q3 revenue exceeded expectations, supported by very strong growth in Power, while profitability fell short of both our estimate and LSEG consensus. Comparable revenue increased by 14% y/y. However, adjusted EBITDA of EUR 5.5m was below our...

Net sales of EUR 87m was 5% above market (LSEG) consensus but adjusted EBITDA of EUR 5.5m came 15% below consensus in Q3. Comparable net sales growth was 14% in Q3 y/y. Net sales was above our forecast in the Power segment but below in the Energy Transition...

Reported revenue growth has been negative for the last six quarters, but we forecast reported net sales to bounce into positive territory (+8% y/y) in Q3. However, we lower our Q3 EBITDA estimate to reflect slower project starts, while raising our Q4...