Sodexo isn't likely to return to attractive margin levels before 2028, Bernstein analyst Sabrina Blanc writes. The French food-services company reported a revenue beat for the third quarter and raised its full-year guidance. It also forecast an underlying operating profit margin for the fiscal year of between 3.2% and 3.4%. "We view these results as a positive, but remain cautious on Sodexo," Blanc says, adding that reorganizing, simplifying and re-energizing a group like Sodexo takes time. Sodexo plans to update investors on its midterm targets at an event on July 16. Shares are up 1.9% at 53.75 euros. (ian.walker@wsj.com)
Dow Jones Newswires
Sodexo Not Likely to Return to Attractive Margin Levels Before 2028 — Market Talk
Sodexo isn't likely to return to attractive margin levels before 2028, Bernstein analyst Sabrina Blanc writes. The French food-services company reported a revenue beat for the third quarter and raised its full-year guidance. It also forecast an underlying operating profit margin for the fiscal year…