Mersen sinks to bottom of SBF120 after Q3 update, outlook cut

** Shares in Mersen MRN have plummeted to the bottom of the SBF120 PX4, losing as much as 20.4% after publishing Q3 results and cutting its annual guidance

** Its Q3 sales came in at 285 million euros ($332.37 million), below market expectations, with Portzamparc saying the miss was mainly due to very weak activity in their solar power segment

** Mersen also lowered its full year organic sales growth target, its profit margin outlook, and capex estimates which the broker says was again mainly due to a lack of rebound in solar in Q3 and H2 "on which management had little visibility"

** "This publication should lead to a revision of the entire consensus," Portzamparc says whilst still believing the 2025 full year performance will be solid

** As of 07:16 GMT, Mersen stock is down 17%, on track for its worst day ever

($1 = 0.8575 euros)