Investing.com - Stora Enso (OTC:SEOAY) Oyj R reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Stora Enso Oyj R announced earnings per share of €0.35 on revenue of €2.8B. Analysts polled by Investing.com anticipated EPS of €0.4134 on revenue of €2.69B.
Stora Enso Oyj R shares are up 15% from the beginning of the year, still down 9.80% from its 52 week high of €20.01 set on April 20. They are outperforming the STOXX 600 which is down 8.92% from the start of the year.
Stora Enso Oyj R shares lost 1.82% in intra-day trade following the report.
Stora Enso Oyj R follows other major Materials sector earnings this month
Stora Enso Oyj R's report follows an earnings beat by UPM-Kymmene on Tuesday, who reported EPS of €0.42 on revenue of €2.51B, compared to forecasts EPS of €0.3291 on revenue of €2.32B.
Stora Enso Oyj A had missed expectations on Thursday with first quarter EPS of €0.35 on revenue of €2.8B, compared to forecast for EPS of €0.4134 on revenue of €2.69B.
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