Investing.com - Weir Group (OTC:WEGRY) reported on Wednesday fourth quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Weir Group announced earnings per share of £0.3629 on revenue of £1.03B. Analysts polled by Investing.com anticipated EPS of £35.43 on revenue of £1,091M.
Weir Group shares are down 3% from the beginning of the year, still down 17.79% from its 52 week high of £2,015.49 set on April 27, 2021. They are outperforming the STOXX 600 which is down 9.03% from the start of the year.
Weir Group shares gained 8.98% in intra-day trade following the report.
Weir Group follows other major Industrials sector earnings this month
Weir Group's report follows an earnings missed by BAE Systems on February 24, who reported EPS of £0.24 on revenue of £10.18B, compared to forecasts EPS of £22.01 on revenue of £11,338M.
Bunzl had beat expectations on Monday with fourth quarter EPS of £0.69 on revenue of £5.42B, compared to forecast for EPS of £0.30 on revenue of £5,137M.
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