Investing.com - Konecranes reported on Thursday second quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Konecranes announced earnings per share of €0.35 on revenue of €787.1M. Analysts polled by Investing.com anticipated EPS of €0.4921 on revenue of €821.19M.
Konecranes shares are down 83% from the beginning of the year, still down 39.87% from its 52 week high of €42.31 set on September 7, 2021. They are under-performing the STOXX 600 which is down 12.23% 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 July 20, who reported EPS of €0.26 on revenue of €2.56B, compared to forecasts EPS of €0.394 on revenue of €2.74B.
Metso Outotec had missed expectations on July 22 with second quarter EPS of €-0.02 on revenue of €1.3B, compared to forecast for EPS of €0.1291 on revenue of €1.22B.
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