October 24, 2019 / 5:34 AM / a month ago

Schneider Electric third-quarter revenue tops estimates

Oct 24 (Reuters) - Schneider Electric on Thursday posted an organic revenue growth of 3.1% in its third quarter, underpinned by strong performances in its energy management segment.

The company, which markets products ranging from electrical car chargers and lighting control to transformers and software, said its third-quarter revenue came in at 6.64 billion euros ($7.39 billion), above a company-compiled consensus of 6.61 billion euros.

“We confirm good growth in the quarter amid an uncertain macroeconomic environment and a high base of comparison,” Chairman and Chief Executive Officer Jean-Pascal Tricoire said in a statement.

Schneider Electric, which has a history of raising its outlook several times a year, reaffirmed its annual organic sales growth by 4%-5%.

$1 = 0.8981 euros Reported by Camille Raynaud, Editing by Sherry Jacob-Phillips

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