Vestas falls to bottom of STOXX after surprise Q1 earnings loss
** Shares in Vestas VWS.CO fall 4.3% after the world's largest maker of wind turbines posted a surprise Q1 adjusted operating loss
** Q1 adjusted EBIT comes in as a loss of EUR 68 million, against an analyst poll of a profit of EUR 25 million
** Jefferies notes the "weak start" and says EBIT was significantly below with deeply negative margins in Power Solutions, despite slight year-on-year improvement
** "A significant ramp-up is needed therefore from Q2 and into H2 to reach both revenues and margin targets for the year, mainly in Power Solutions," it adds
** J.P.Morgan says the surprise is the slower sequential recovery in Service margins where adjusted EBIT margin came in below its consensus
** The brokerage adds the quarterly results are lumpy
** The stock is on the bottom of STOXX 600 index .STOXX and if losses hold, it will see its worst day since October 2023
Reporting by Jagoda Darlak
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