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XP Power – from “expect that market conditions will improve as the year progresses” to “significantly below market expectations” in just 5 weeks!

By Steve Moore | Friday 16 February 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

An 11th January trading update from XP Power (XPP) which, not-modestly, describes itself as “one of the world's leading developers and manufacturers of critical power control solutions for the Industrial Technology, Healthcare and Semiconductor Manufacturing Equipment sectors”, stated that the company continued to expect 2024 “market conditions will improve as the year progresses… our performance will be supported by the actions taken to reduce our cost base and we will continue to respond decisively to market conditions as they evolve. We will provide a further update and outlook with our full year results announcement”. So what now already another “Trading Update”, despite the full year results announcement not scheduled for until March 5th?
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