TI Fluid Systems holds FY guidance as sales fall in line with forecasts

Fluid engineering specialist TI Fluid Systems held guidance after first-quarter revenues fell 0.4%, in line with expectations to €847m.

The company on Thursday said total bookings rose 6% year on year to €685m.

It still expects full year flat-to-low single-digit constant currency revenue growth, adjusted earnings before interest and tax margin expansion to above 7.4% and adjusted free cash flow conversion of 30% of adjusted core earnings.

Reporting by Frank Prenesti for Sharecast.com