Investing.com - Metso (OTC:MXTOF) Outotec reported on Wednesday second quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Metso Outotec announced earnings per share of €0.07 on revenue of €1.01B. Analysts polled by Investing.com anticipated EPS of €0.106 on revenue of €1.08B.
Metso Outotec shares are up 15% from the beginning of the year, still down 9.40% from its 52 week high of €10.43 set on April 26. They are under-performing the OMX Helsinki 25 which is up 24.1% from the start of the year.
Metso Outotec shares lost 1.58% in intra-day trade following the report.
Metso Outotec follows other major Industrials sector earnings this month
Metso Outotec's report follows an earnings beat by KONE Oyj on July 20, who reported EPS of €0.55 on revenue of €2.81B, compared to forecasts EPS of €0.5153 on revenue of €2.64B.
Wartsila had missed expectations on July 20 with second quarter EPS of €0.06 on revenue of €1.13B, compared to forecast for EPS of €0.0895 on revenue of €1.1B.
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