VWDRY - Vestas profit tops estimates but weighed by U.S. uncertainty

Vestas Wind Systems ([[VWDRY]] -4.4%) falls sharply despite reporting a stronger than expected Q3 operating profit, as sentiment is hit by uncertainty over the U.S. presidential election.Vestas says Q3 EBIT before special items fell 4% Y/Y to €412M ($479.5 million), compared with expectations for €373M in a poll of analysts compiled by the company, while revenuer rose 31% to €4.77B, above analyst expectations of €4.11B.The value of new orders during the quarter totaled €3.1B ($3.61B), below the €3.5B expected by analysts, but the total turbine and service order backlog rose to €33.9B from €32.8B.The company backed its full-year guidance, expecting revenue of €14B-€15B with EBIT margin before special items of 5%-7%.Turbine deliveries totaled a record 5,991 MW during the quarter despite "logistical challenges and supply chain bottlenecks amplified by the COVID-19 situation."In a bullish report published recently on Seeking Alpha, Steve Zachritz praised Vestas' acquisition of Mitsubishi's 50% stake in

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Vestas profit tops estimates but weighed by U.S. uncertainty