KONE Oyj reported on Wednesday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
KONE Oyj announced earnings per share of €0.29 on revenue of €2.20B. Analysts polled by anticipated EPS of €0.31 on revenue of €2.07B. That with comparison to EPS of €0.32 on revenue of €2.2B in the same period a year before. KONE Oyj had reported EPS of €0.54 on revenue of €2.68B in the previous quarter. Analysts are expecting EPS of €0.42 and revenue of €2.42B in the upcoming quarter.
KONE Oyj shares are down 5% from the beginning of the year , still down 11.69% from its 52 week high of €62.28 set on January 28. They are outperforming the OMX Helsinki 25 which is down 18.2% year to date.
KONE Oyj follows other major Capital Goods sector earnings this month
KONE Oyj's report follows an earnings matched by Ponsse Oyj 1 on February 18, who reported EPS of €0.63 on revenue of €203M, compared to forecasts EPS of €0.63 on revenue of €203.1M.
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