Investing.com - Lanxess AG (DE:LXSG) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Lanxess AG announced earnings per share of €1.17 on revenue of €1.70B. Analysts polled by Investing.com anticipated EPS of €0.99 on revenue of €1.65B. That with comparison to EPS of €0.93 on revenue of €1.82B in the same period a year before. Lanxess AG had reported EPS of €0.64 on revenue of €1.64B in the previous quarter. Analysts are expecting EPS of €0.57 and revenue of €1.56B in the upcoming quarter.
Lanxess AG shares are down 29% from the beginning of the year , still down 28.52% from its 52 week high of €64.58 set on November 18, 2019. They are under-performing the STOXX 600 which is down 19.73% year to date.
Lanxess AG follows other major Basic Materials sector earnings this month
Lanxess AG's report follows an earnings beat by BASF on April 30, who reported EPS of €1.36 on revenue of €16.75B, compared to forecasts EPS of €1.19 on revenue of €15.15B.
Covestro had beat expectations on April 29 with first quarter EPS of €0.11 on revenue of €2.78B, compared to forecast for EPS of €0.07 on revenue of €2.79B.
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