Kone reported Q2 earnings of $0.27 per share, missing the Zacks Consensus Estimate of $0.32 by 15.63%. Despite the earnings miss, revenue reached $3.42 billion, slightly beating estimates, and management reaffirmed its full-year guidance. The company is also planning a strategic acquisition of rival TK Elevator involving significant costs, while Nordea upgraded the stock rating to 'Hold' following the results.
Kone Oyj reported EPS of $0.27, missing estimates due to TK Elevator acquisition costs, despite a revenue beat and reaffirmed full-year guidance.
Read the full storyNordea upgraded KONE to Hold despite a 15.63% EPS miss, as management reaffirms full-year guidance amid TK Elevator acquisition costs.
Kone reported quarterly earnings of $0.27 per share, falling short of the $0.32 consensus estimate and previous year results.