Investing.com - Lanxess AG (DE:LXSG) reported on Thursday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Lanxess AG announced earnings per share of €1.41 on revenue of €1.95B. Analysts polled by Investing.com anticipated EPS of €1.2 on revenue of €1.83B.
Lanxess AG shares are up 42% from the beginning of the year, still down 17.78% from its 52 week high of €67.38 set on March 10. They are outperforming the Euro Stoxx 50 which is up 21.88% from the start of the year.
Lanxess AG shares lost 6.40% in intra-day trade following the report.
Lanxess AG follows other major Materials sector earnings this month
Lanxess AG's report follows an earnings matched by Linde PLC on October 28, who reported EPS of €2.34 on revenue of €6.57B, compared to forecasts EPS of €2.34 on revenue of €6.42B.
Wacker Chemie had beat expectations on October 29 with third quarter EPS of €4.9 on revenue of €1.66B, compared to forecast for EPS of €4.63 on revenue of €1.64B.
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