Investing.com - UPM-Kymmene reported on Tuesday third quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
UPM-Kymmene announced earnings per share of €0.29 on revenue of €2.03B. Analysts polled by Investing.com anticipated EPS of €0.27 on revenue of €2.11B.
UPM-Kymmene shares are down 19% from the beginning of the year, still down 21.02% from its 52 week high of €31.50 set on January 2. They are under-performing the STOXX 600 which is down 15.21% from the start of the year.
UPM-Kymmene follows other major Basic Materials sector earnings this month
UPM-Kymmene's report follows an earnings beat by Stora Enso Oyj A on October 20, who reported EPS of €0.14 on revenue of €2.08B, compared to forecasts EPS of €0.1 on revenue of €2.14B.
Stora Enso Oyj R had beat expectations on October 20 with third quarter EPS of €0.14 on revenue of €2.08B, compared to forecast for EPS of €0.1 on revenue of €2.14B.
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