UPM-Kymmene reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
UPM-Kymmene announced earnings per share of €0.36 on revenue of €2.29B. Analysts polled by anticipated EPS of €0.37 on revenue of €2.38B. That with comparison to EPS of €0.57 on revenue of €2.69B in the same period a year before. UPM-Kymmene had reported EPS of €0.49 on revenue of €2.45B in the previous quarter. Analysts are expecting EPS of €0.26 and revenue of €2.17B in the upcoming quarter.
UPM-Kymmene shares are down 26.76% from the beginning of the year , still down 21.97% from its 52 week high of €31.50 set on January 2. They are under-performing the OMX Helsinki 25 which is down 17.09% year to date.
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 Tuesday, who reported EPS of €0.12 on revenue of €2.21B, compared to forecasts EPS of €0.1 on revenue of €2.39B.
Stora Enso Oyj R had beat expectations on Tuesday with first quarter EPS of €0.12 on revenue of €2.21B, compared to forecast for EPS of €0.1 on revenue of €2.39B.
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