Vestas Upgrades Sales, Margins Forecast as Profit Surges
This article is for subscribers only.
Vestas Wind Systems A/S upgraded its forecast for full-year sales and profit margins after earnings beat analyst estimates in the third quarter. The shares jumped.
Profit was 102 million euros ($126 million) in the three months through Sept. 30, rebounding from an 87 million-euro loss a year earlier, the Aarhus, Denmark-based wind-turbine manufacturer said in a statement. The average forecast of nine analysts compiled by Bloomberg was for a 71 million-euro profit.