Investing.com - Cargotec Oyj reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Cargotec Oyj announced earnings per share of €0.18 on revenue of €858.3M (NYSE:MMM). Analysts polled by Investing.com anticipated EPS of €0.28 on revenue of €777.41M. That with comparison to EPS of €0.48 on revenue of €856M in the same period a year before. Cargotec Oyj had reported EPS of €0.87 on revenue of €1.01B in the previous quarter. Analysts are expecting EPS of €0.21 and revenue of €717.68M in the upcoming quarter.
Cargotec Oyj shares are down 43% from the beginning of the year , still down 55.59% from its 52 week high of €38.48 set on April 25, 2019. They are under-performing the OMX Helsinki 25 which is down 17.09% year to date.
Cargotec Oyj follows other major Capital Goods sector earnings this month
Cargotec Oyj's report follows an earnings matched by KONE Oyj on Wednesday, who reported EPS of €0.31 on revenue of €2.2B, compared to forecasts EPS of €0.31 on revenue of €2.07B.
Ponsse Oyj 1 had matched expectations on February 18 with fourth quarter EPS of €0.63 on revenue of €203M, compared to forecast for EPS of €0.63 on revenue of €203.1M.
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