The profit warning announced by Vestas at the end of October has disrupted its Spanish equivalent, Gamesa. The aero-generator manufacturer has suffered more from decreased expected earnings than any drops in share price to date. Experts have slashed their predictions by 10% and 8% for 2012 and 2013, respectively. Expected earnings have dropped nearly 30% since the end of June.
All indicators suggested that Investor Day news would be a breath of fresh air for Gamesa. The fact that during the first nine months of the year the company had already reached its predicted number of orders and would increase its profits 20% between January and September with respect to the same period in 2010 suggested that winds were shifting favorably for company. Still, Vestas faced the storm with implacable calm.
Consensus earnings predictions collected by FactSet show that Gamesa will bring in 48 million euros in 2012, which is 9.6% less that what they hoped previously.
The company could earn 64 million this year. A similar drop could happen next year, too. Marked consensus views have lowered expected earnings for Gamesa by 7.87% to 59 million euros for 2013.