Investing.com - Konecranes reported on Wednesday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Konecranes announced earnings per share of €0.14 on revenue of €769.6M. Analysts polled by Investing.com anticipated EPS of €0.16 on revenue of €727.08M. That with comparison to EPS of €0.17 on revenue of €758.2M in the same period a year before.Konecranes had reported EPS of €0.57 on revenue of €933.3M (NYSE:MMM) in the previous quarter.Analysts are expecting EPS of €0.16 and revenue of €663.19M in the upcoming quarter.
Konecranes shares are down 27% from the beginning of the year and are trading at €19.84 , down-from-52-week-high.They are under-performing the OMX Helsinki 25 which is down 11.26% year to date.
Konecranes follows other major Capital Goods sector earnings this month
Konecranes's report follows an earnings beat by KONE Oyj on Wednesday, April 22, 2020, 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 Thursday, April 23, 2020 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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