Investing.com - Lanxess AG (DE:LXSG) reported on Friday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Lanxess AG announced earnings per share of €0.87 on revenue of €2.08B. Analysts polled by Investing.com anticipated EPS of €0.2081 on revenue of €1.95B.
Lanxess AG shares are down 22% from the beginning of the year, still down 36.16% from its 52 week high of €65.88 set on September 16, 2021. They are under-performing the STOXX 600 which is down 10.92% from the start of the year.
Lanxess AG shares gained 5.49% in intra-day trade following the report.
Lanxess AG follows other major Materials sector earnings this month
Lanxess AG's report follows an earnings beat by Linde PLC on February 10, who reported EPS of €2.42 on revenue of €7.24B, compared to forecasts EPS of €2.34 on revenue of €6.87B.
BASF had missed expectations on February 25 with fourth quarter EPS of €1.17 on revenue of €19.78B, compared to forecast for EPS of €1.29 on revenue of €18.62B.
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