Stevanato Group S.p.A. (STVN), a provider of drug containment, delivery, and diagnostic solutions, Tuesday reported profit before tax of 40.8 million euros for the third quarter, lower than 50.4 million euros in the same quarter a year ago, primarily impacted by increase in cost of sales. The company has lowered its full-year adjusted EPS outlook while maintaining revenue expectations.
Net profit declined to 30 million euros or 0.11 euros per share from 37.9 million euros or 0.14 euros per share last year.
Excluding one-time items, adjusted profit dropped to 33.1 million euros or 0.12 per share from 40.1 million euros or 0.15 per share in the prior year.
Operating profit was 41 million euros, down from 51.2 million euros a year ago.
Revenue for the quarter, however, grew to 277.9 million euros from 271.4 million euros in the previous year.
For the full year, Stevanato now expects adjusted EPS in the range of 0.47 euros - 0.49 euros, down from the previous outlook of 0.48 euros - 0.50 euros.
The company also confirmed its revenue outlook for the year of 1,090 billion euros - 1.110 billion euros.
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