Somero Enterprises Inc (GB:SOM) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Somero Enterprises Inc. reported a decline in H1 2024 revenues to $51.8 million, a 12% decrease from the previous year, with significant impacts from North American market challenges and adverse weather in Australia. The company launched two new products, including their first electric powered laser screed, and remains focused on operational efficiency and long-term growth despite a 32% drop in profits before tax. Somero expects a stronger second half of 2024, with confidence in the resilience of non-residential construction markets and ongoing product innovation.
For further insights into GB:SOM stock, check out TipRanks’ Stock Analysis page.
