Schneider Electric’s first quarter results beat consensus

MIGUEL MEDINA | AFP | Getty Images

The logo of electricity distribution and energy management group Schneider Electric is pictured on Sept 4, 2014 at the company’s headquarters in Rueil-Malmaison

Schneider Electric reported on Thursday its first quarter results with revenue growth of 9 percent at 6.31 billion euros, above consensus of 6.13 billion euros.

The company, which markets products ranging from electrical car chargers and lighting control to transformers and software, reiterated its 2019 outlook, with an adjusted EBITA margin up 20 to 50 basis points organic and a revenue organic growth of 3 to 5 percent.

Schneider Electric said that the FX impact on 2019 full year revenues would be between 300 and 400 million euros and could be of around negative 10 basis points for adjusted EBITA at current exchange rates.

“We start the year 2019 with a solid momentum and continued growth,” Jean-Pascal Tricoire, chairman and CEO, said in a statement.