Investing.com - Metso (OTC:MXTOF) Outotec reported on Friday second quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Metso Outotec announced earnings per share of €-0.02 on revenue of €1.3B. Analysts polled by Investing.com anticipated EPS of €0.1281 on revenue of €1.22B.
Metso Outotec shares are down 9% from the beginning of the year, still down 26.36% from its 52 week high of €10.59 set on January 20. They are outperforming the STOXX 600 which is down 12.54% from the start of the year.
Metso Outotec shares gained 3.81% in intra-day trade following the report.
Metso Outotec follows other major Industrials sector earnings this month
Metso Outotec's report follows an earnings missed by KONE Oyj on Wednesday, who reported EPS of €0.26 on revenue of €2.56B, compared to forecasts EPS of €0.4343 on revenue of €2.83B.
Wartsila had missed expectations on Tuesday with second quarter EPS of €0.09 on revenue of €1.41B, compared to forecast for EPS of €0.0932 on revenue of €1.28B.
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