Schneider Electric Reaffirms 2024 Outlook After Revenue Increase
By Nina Kienle
Schneider Electric reported a rise in revenue for the first quarter and reaffirmed its full-year targets on strong demand dynamics across most sectors and geographies.
The French group said revenue for the first quarter came at 8.61 billion euros ($9.21 billion), up 5.3% organically on year. Performance was boosted by strong demand dynamics across most sectors and geographies, particularly in data centers and infrastructure, the company said.
Revenue beat analysts' expectations of EUR8.57 billion, according to estimates provided by the company.
Last week, the company confirmed it is in talks with engineering-software company Bentley Systems about a potential strategic transaction in a deal valued at probably more than $15 billion.
For 2024, the company reaffirmed its estimates. It continues to forecast adjusted earnings before interest, taxes and amortization of between 8% and 12% organically and organic revenue growth between 6% to 8%.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
April 25, 2024 01:48 ET (05:48 GMT)
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