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Trigano's second-quarter revenue falls short of expectations, stock price declines
Investing.com – French leisure vehicle manufacturer Trigano (EPA:TRIA) stock fell on Thursday morning after the company reported second-quarter revenue that missed analyst expectations.
The stock initially dropped nearly 5%, then recovered some ground, down 1.8% as of 10:33 GMT.
Trigano announced on Wednesday that second-quarter sales reached €946.3 million ($1.09 billion), which Portzamparc said was significantly below its forecast.
The broker attributed the underperformance to supplier fires and quality issues, which led to about 600 vehicles being seized by the end of February. Portzamparc estimates that raw material shortages amounted to approximately €35 million by the end of February.
Kepler Cheuvreux described this quarter’s performance as weak, mainly due to a one-time supplier fire and declining mobile home sales, but also noted that these factors masked solid underlying demand.
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