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Ependion Q3 2024: Mixed bag - Redeye

Redeye is a bit surprised by the major drop in Ependion’s Q3 top-line numbers. Sales declined by 20% Y/Y and order bookings remain sluggish. On a positive note, gross margins improved further and costs are well managed. Hence, the “earnings miss” is rather modest. However, the near-term market outlook is still weak/uncertain and we will make some adjustments to our forecasts accordingly.

Redeye is a bit surprised by the major drop in Ependion’s Q3 top-line numbers. Sales declined by 20% Y/Y and order bookings remain sluggish. On a positive note, gross margins improved further and costs are well managed. Hence, the “earnings miss” is rather modest. However, the near-term market outlook is still weak/uncertain and we will make some adjustments to our forecasts accordingly.
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