Investing.com - Metso (OTC:MXCYY) Oyj reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Metso Oyj announced earnings per share of €0.47 on revenue of €137.0M. Analysts polled by Investing.com anticipated EPS of €0.42 on revenue of €865.8M. That with comparison to EPS of €0.43 on revenue of €836M in the same period a year before. Metso Oyj had reported EPS of €0.41 on revenue of €963M in the previous quarter. Analysts are expecting EPS of €0.29 and revenue of €834.75M in the upcoming quarter.
Metso Oyj shares are down 29% from the beginning of the year , still down 37.50% from its 52 week high of €39.79 set on July 4, 2019. They are under-performing the OMX Helsinki 25 which is down 13.44% year to date.
Metso Oyj follows other major Capital Goods sector earnings this month
Metso Oyj's report follows an earnings beat by KONE Oyj on April 22, who reported EPS of €0.31 on revenue of €2.2B, compared to forecasts EPS of €0.3 on revenue of €2.19B.
Valmet had missed expectations on April 23 with first quarter EPS of €0.2 on revenue of €821M, compared to forecast for EPS of €0.21 on revenue of €751.05M.
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