Earnings Miss: Piaggio & C. SpA Missed EPS By 27% And Analysts Are Revising Their Forecasts

Piaggio & C. SpA (BIT:PIA) just released its latest third-quarter report and things are not looking great. It wasn't a great result overall - while revenue fell marginally short of analyst estimates at €367m, statutory earnings missed forecasts by an incredible 27%, coming in at just €0.029 per share. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

View our latest analysis for Piaggio & C

Following the latest results, Piaggio & C's five analysts are now forecasting revenues of €1.81b in 2025. This would be a credible 4.7% improvement in revenue compared to the last 12 months. Per-share earnings are expected to bounce 23% to €0.23. Before this earnings report, the analysts had been forecasting revenues of €1.87b and earnings per share (EPS) of €0.24 in 2025. It's pretty clear that pessimism has reared its head after the latest results, leading to a weaker revenue outlook and a minor downgrade to earnings per share estimates.

The analysts made no major changes to their price target of €3.01, suggesting the downgrades are not expected to have a long-term impact on Piaggio & C's valuation. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. The most optimistic Piaggio & C analyst has a price target of €5.00 per share, while the most pessimistic values it at €2.10. Note the wide gap in analyst price targets? This implies to us that there is a fairly broad range of possible scenarios for the underlying business.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Piaggio & C's past performance and to peers in the same industry. We would highlight that Piaggio & C's revenue growth is expected to slow, with the forecast 3.8% annualised growth rate until the end of 2025 being well below the historical 8.3% p.a. growth over the last five years. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 4.5% annually. Factoring in the forecast slowdown in growth, it looks like Piaggio & C is forecast to grow at about the same rate as the wider industry.

The Bottom Line

The most important thing to take away is that the analysts downgraded their earnings per share estimates, showing that there has been a clear decline in sentiment following these results. Sadly, they also downgraded their revenue forecasts, but the business is still expected to grow at roughly the same rate as the industry itself. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Piaggio & C going out to 2026, and you can see them free on our platform here..

Before you take the next step you should know about the 2 warning signs for Piaggio & C that we have uncovered.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.