Investing.com - Lanxess AG (DE:LXSG) reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Lanxess AG announced earnings per share of €9.3 on revenue of €1.44B. Analysts polled by Investing.com anticipated EPS of €0.75 on revenue of €1.48B.
Lanxess AG shares are down 21% from the beginning of the year, still down 26.87% from its 52 week high of €64.58 set on November 18, 2019. They are under-performing the STOXX 600 which is down 10.37% from the start of the year.
Lanxess AG shares lost 4.97% in intra-day trade following the report.
Lanxess AG follows other major Basic Materials sector earnings this month
Lanxess AG's report follows an earnings beat by BASF on July 29, who reported EPS of €0.25 on revenue of €12.68B, compared to forecasts EPS of €-0.06 on revenue of €12.31B.
Henkel VZO had missed expectations on August 5 with second quarter EPS of €0.55 on revenue of €4.56B, compared to forecast for EPS of €0.9 on revenue of €4.56B.
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