Elevator-maker Kone trims outlook as Q1 profit misses forecast

04/27/2022

Less than a minute

2022.04.27 12:51

Elevator-maker Kone trims outlook as Q1 profit misses forecast
Logo is displayed in an elevator at the KONE Academy of Finish elevators and escalators manufacturer KONE in Hanover, Germany, February 6, 2020. Picture taken February 6, 2020. REUTERS/Fabian Bimmer

HELSINKI (Reuters) – Elevator-maker Kone posted weaker-than-expected first-quarter core earnings on Wednesday, burdened by supply chain constraints and a decline in its China business, and trimmed its full-year sales and earnings outlook.

January-March operating profit fell to 171.1 million euros ($181.6 million) from 249.8 million euros a year earlier, missing the 225.8 million euro estimate of ten analysts polled by Refinitiv.

($1 = 0.9423 euros)

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04/27/2022

Less than a minute