EssilorLuxottica's consolidated sales for the third quarter of 2024 were €6,437 million, which fell 2% short of forecasts and 3% below UBS estimates.
The company's growth at constant exchange rates was 4.0%, which was lower than consensus expectations of 5.9% and UBS's forecast of 6.1%.
UBS maintains a Buy recommendation for EssilorLuxottica, with a price target of €232. The analyst suggests that a strong start to the quarter could positively impact the share price, while fourth-quarter forecasts may provide reassurance in a challenging market. However, concerns have been raised about margin expansion for the latter half of 2024 based on the third-quarter results.