Holcim Ltd. on Friday raised its sales guidance for 2023 after reporting revenue and recurring earnings for the first quarter that fell compared with last year but exceeded consensus expectations.
The Swiss buildings-material company HOLN,
For the first quarter, Holcim’s net sales fell to 5.725 billion Swiss francs ($6.42 billion) from CHF6.44 billion in the year-earlier period, it said. On an organic basis, the company’s net sales grew 8%.
Recurring EBIT for the quarter fell 20% to CHF493 million, but rose 12% on an organic basis, the company said.
Analysts had estimated Holcim’s first-quarter recurring EBIT at CHF464 million on net sales of CHF5.66 billion, according to consensus numbers provided by the company.
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