Kion shares rise after return to profit and earnings beat
Updated
Updated · MarketWatch · Apr 30
Kion shares rise after return to profit and earnings beat
8 articles · Updated · MarketWatch · Apr 30
The German forklift maker posted first-quarter net profit of 92.2 million euros, versus a 46.9 million-euro loss a year earlier, while the stock later traded 3% higher at 44.36 euros.
Order intake rose to 2.99 billion euros from 2.71 billion and beat forecasts, while adjusted EBIT increased to 205.2 million euros and free cash flow climbed to 47 million euros.
Revenue was broadly flat at 2.77 billion euros, down slightly from 2.79 billion, and Kion said orders remained broadly unaffected by the Iran war, helping reassure investors on profitability.
With profits soaring but revenue flat, is Kion's automation boom hiding weakness in its core industrial truck business?
Can Kion's AI partnership with Siemens outpace agile startups in the race to automate global warehouses?