Konecranes shares hit record high after Q2 profit beat

Konecranes Oyj

26/07/2024 08:31

** Shares in Konecranes  KCRA.HE  jump more than 12% after
the Finnish engineering group reported Q2 numbers beating
estimates, citing strong performance in all business segments
    ** The group's Q2 comparable EBITA came in at EUR 147.3
million ($159.82 million) compared to EUR 113.9 million seen in
Vara Research poll of analysts
        ** Konecranes says it expects healthy demand environment
among industrial customers, while container throughput among
port solution clients is still at a high level.
  
    ** Inderes analyst Erkki Vesola says Q2 results are very
strong in terms of revenue and profit, and tolerable in terms of
orders
    ** "The only beauty blemish being that orders for Industrial
equipment and thus for the group as a whole were somewhat below
expectations," Vesola adds
    ** Konecranes share hits record high and is up 44%
year-to-date


($1 = 0.9217 euros)

 (Reporting by Elviira Luoma)
 ((Elviira.luoma@thomsonreuters.com))