Geberit Beats Forecasts With Q2 Results
Plumbing supplier Geberit reported stronger-than-expected second-quarter results after raising prices to offset rising raw material costs driven by the conflict in Iran. Increased sales volumes helped boost factory production and lift core earnings.
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GEBERIT AG-REG posted an increase in second-quarter sales to 838 million Swiss francs ($1B) on Wednesday morning, offsetting raw material cost spikes through higher production and price hikes. Shares rose 7% in mid-morning trading following the earnings beat. The Swiss company navigated supply disruptions originating from Iran by lifting output volumes and scaling up factory utilization.
