Business
Epiroc shares hit bottom of STOXX as Q2 disappoints
Epiroc shares hit bottom of STOXX as Q2 disappoints
About this update from Epiroc Ab Class A
** Shares in Epiroc OMXSTO:EPI_A fall 5.5% as the Swedish mining equipment maker reported quarterly results below estimates** Its Q2 revenue reached SEK 15.28 billion ($1.58 billion), operating profit came in at SEK 2.83 billion, both missing estimates seen in LSEG poll of analysts** Orders received decreased 7% to SEK 15.28 billion, with currency impacting negatively with 9%, Epiroc said ** The group expects demand from construction customers to remain weak short-term** Near-term demand for mining is to remain at a high level, it said ** The stock, on track for worst day in 12 months, is the weakest performer on pan-European STOXX 600 TVC:SXXP index($1 = 9.6653 Swedish crowns)