Investing.com - Nokian Renkaat reported on Tuesday second quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Nokian Renkaat announced earnings per share of €-0.18 on revenue of €270.7M. Analysts polled by Investing.com anticipated EPS of €0.07 on revenue of €273.57M.
Nokian Renkaat shares are down 16% from the beginning of the year and are trading at €21.30 , down-from-52-week-high.They are under-performing the OMX Helsinki 25 which is down 1.68% from the start of the year.
Nokian Renkaat follows other major Consumer Cyclical sector earnings this month
Nokian Renkaat's report follows an earnings missed by Rapala VMC Oyj on July 16, who reported EPS of €-0.12 on revenue of €117.1M, compared to forecasts EPS of €0.11 on revenue of €131.00M.
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