Prysmian Q1 core profit misses estimates on FX impact
The Italian cable maker reported an adjusted core profit of 601 million euros for the first quarter. This result missed analyst estimates due to FX headwinds.
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PRYSMIAN SPA reported a 14% rise in first-quarter adjusted EBITDA to €601M, missing analyst estimates of €612M. A negative €36M foreign exchange impact dragged the results for the manufacturer based in Italy. Investors are weighing core growth against currency volatility affecting the EUR/USD conversion of global earnings.
