Investing.com - Spirax-Sarco Engineering reported on Wednesday second quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Spirax-Sarco Engineering announced earnings per share of £1.47 on revenue of £643.7M. Analysts polled by Investing.com anticipated EPS of £145.81 on revenue of £647.06M.
Spirax-Sarco Engineering shares are up 39% from the beginning of the year, still down 2.71% from its 52 week high of £16,203.80 set on August 11. They are outperforming the STOXX 600 which is up 18.87% from the start of the year.
Spirax-Sarco Engineering follows other major Basic Materials sector earnings this month
Spirax-Sarco Engineering's report follows an earnings missed by IMI PLC on July 30, who reported EPS of £0.31 on revenue of £907.0M, compared to forecasts EPS of £34.84 on revenue of £864.40M.
Synthomer had missed expectations on August 5 with second quarter EPS of £0.47 on revenue of £1.23B, compared to forecast for EPS of £29.80 on revenue of £1,157M.
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