Investing.com - Konecranes reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Konecranes announced earnings per share of €-0.26 on revenue of €672.1M. Analysts polled by Investing.com anticipated EPS of €0.4264 on revenue of €785.22M.
Konecranes shares are down 26% from the beginning of the year, still down 38.97% from its 52 week high of €42.31 set on September 7, 2021. They are under-performing the OMX Helsinki 25 which is down 11.69% from the start of the year.
Konecranes shares lost 100.00% in pre-market trade following the report.
Konecranes follows other major Industrials sector earnings this month
Konecranes's report follows an earnings missed by KONE Oyj on Wednesday, who reported EPS of €0.25 on revenue of €2.44B, compared to forecasts EPS of €0.3491 on revenue of €2.47B.
Metso Outotec had missed expectations on April 21 with first quarter EPS of €0.11 on revenue of €1.16B, compared to forecast for EPS of €0.1144 on revenue of €1.14B.
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