It's been a good week for H+H International A/S (CPH:HH) shareholders, because the company has just released its latest second-quarter results, and the shares gained 2.8% to kr.96.70. It was not a great result overall. Although revenues beat expectations, hitting kr.752m, statutory earnings missed analyst forecasts by 19%, coming in at just kr.0.80 per share. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.
Following last week's earnings report, H+H International's three analysts are forecasting 2026 revenues to be kr.2.65b, approximately in line with the last 12 months. Losses are predicted to fall substantially, shrinking 100% to kr.0.0033. Before this earnings announcement, the analysts had been modelling revenues of kr.2.69b and losses of kr.0.41 per share in 2026. Although the revenue estimates have not really changed H+H International'sfuture looks a little different to the past, with a very promising decrease in the loss per share forecasts in particular.
View our latest analysis for H+H International
These new estimates led to the consensus price target rising 13% to kr.128, with lower forecast losses suggesting things could be looking up for H+H International. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. Currently, the most bullish analyst values H+H International at kr.145 per share, while the most bearish prices it at kr.100.00. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await H+H International shareholders.
Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. From these estimates it looks as though the analysts expect the years of declining revenue to come to an end, given the flat forecast out to 2026. That would be a definite improvement, given that the past five years have seen revenue shrink 5.0% annually. Compare this against analyst estimates for the broader industry, which suggest that (in aggregate) industry revenues are expected to grow 5.0% annually. Although H+H International's revenues are expected to improve, it seems that it is still expected to grow slower than the wider industry.
The Bottom Line
The most obvious conclusion is that the analysts made no changes to their forecasts for a loss next year. On the plus side, there were no major changes to revenue estimates; although forecasts imply they will perform worse than the wider industry. We note an upgrade to the price target, suggesting that the analysts believes the intrinsic value of the business is likely to improve over time.
Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have forecasts for H+H International going out to 2028, and you can see them free on our platform here.
Even so, be aware that H+H International is showing 1 warning sign in our investment analysis , you should know about...
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