Friday , 24 January 2020
Latest News

Konecranes and Terex’s share prices fall as Konecranes revises down its profit expectation

‘Rapidly changing market sentiments’ in its equipment business have led Finnish container handling equipment manufacturer Konecranes to revise down its profit expectation,

The company changed its financial guidance on sales from “sales are expected to be higher than in 2014” to “sales are expected to be slightly higher than in 2014”.

On operating profit, the company now expects it to be “approximately on the same level as in 2014”, when previously it had expected it “to improve from 2014”.

Following the announcement, the company’s share price dropped from €25.75 to €23.43 per share, before recovering slightly to €24.

As Konecranes is to merge with Terex, Terex’s share price also dropped following the Konecranes announcement, from US$20.60 to US$19.02, before rallying to US$19.87.

Konecranes share priceTerex's share price also fell