Investing.com - Metso (OTC:MXTOF) Outotec reported on Friday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Metso Outotec announced earnings per share of €0.08 on revenue of €925M. Analysts polled by Investing.com anticipated EPS of €0.0731 on revenue of €971.74M.
Metso Outotec shares are up 22% from the beginning of the year, still down 0.06% from its 52 week high of €10.00 set on April 23. They are outperforming the OMX Helsinki 25 which is up 12.26% from the start of the year.
Metso Outotec shares gained 5.78% in intra-day trade following the report.
Metso Outotec follows other major Capital Goods sector earnings this month
Metso Outotec's report follows an earnings missed by Wartsila on Thursday, who reported EPS of €0.04 on revenue of €946M, compared to forecasts EPS of €0.0517 on revenue of €1.02B.
Valmet had beat expectations on Friday with first quarter EPS of €0.38 on revenue of €858.0M, compared to forecast for EPS of €0.2462 on revenue of €821.28M.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar