Vestas Announces Share Buyback as Full-Year Guidance Boosted

Vestas Wind Systems A/S upgraded its full-year guidance for a second time this year and announced a 150-million euro share buyback program after third-quarter profit beat analysts’ expectations.

Third quarter net income more than doubled to 206 million euros from a year ago, Vestas said Thursday in an earnings report. That beat the mean forecast of 11 analysts on Bloomberg for a 149 million-euro profit.

The company lifted full-year guidance to revenue of 8 billion euros to 8.5 billion euros from its prior prediction of at least 7.5 billion euros. It also raised its guidance for the operating margin and free cash flow for the year.

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