Investing.com - Konecranes reported on Wednesday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Konecranes announced earnings per share of €0.14 on revenue of €769.6M. Analysts polled by Investing.com anticipated EPS of €0.16 on revenue of €727.08M. That with comparison to EPS of €0.17 on revenue of €758.2M in the same period a year before. Konecranes had reported EPS of €0.57 on revenue of €933.3M (NYSE:MMM) in the previous quarter. Analysts are expecting EPS of €0.16 and revenue of €663.19M in the upcoming quarter.
Konecranes shares are down 27% from the beginning of the year , still down 47.36% from its 52 week high of €37.69 set on April 30, 2019. They are under-performing the OMX Helsinki 25 which is down 11.26% year to date.
Konecranes follows other major Capital Goods sector earnings this month
Konecranes's report follows an earnings beat by KONE Oyj on April 22, who reported EPS of €0.31 on revenue of €2.2B, compared to forecasts EPS of €0.3 on revenue of €2.19B.
Valmet had missed expectations on April 23 with first quarter EPS of €0.2 on revenue of €821M, compared to forecast for EPS of €0.21 on revenue of €751.05M.
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