Vestas Q1 Profit Beats Forecasts on Offshore Growth
Danish wind turbine maker Vestas reported a first-quarter operating profit of 127 million euros, significantly exceeding analyst forecasts of 71 million euros. The company attributes the growth to increased offshore production and maintains its full-year revenue guidance of 20 to 22 billion euros.
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VESTAS WIND SYSTEMS A/S reported a first-quarter operating profit of 127 million euros, beating the 71 million euro analyst consensus. The Denmark-based manufacturer benefited from a production ramp-up in its offshore sector during the seasonally slowest period of the year. Investors are rewarding the margin expansion as the firm navigates trade tariff uncertainty and a record order backlog.
