Hexagon Q3 profit in line with forecasts, organic sales drop again

Industrial technology group Hexagon on Wednesday reported quarterly operating earnings in line with analysts' forecasts even as organic sales dropped for the second consecutive quarter on the back of headwinds in China.

STOCKHOLM, Oct 30 (Reuters) - Industrial technology group Hexagon HEXAb.ST on Wednesday reported quarterly operating earnings in line with analysts' forecasts even as organic sales dropped for the second consecutive quarter on the back of headwinds in China.

Hexagon's third-quarter organic sales declined 3% year-on-year. That compared with a 1% drop in the second quarter, which was its first quarterly decline since 2009.

The company's operating earnings rose to 236 million euros ($262 million) up from 232 million in the year-earlier quarter, and in line with the mean forecast in a Refintiv analyst poll.

Hexagon shares were up 4.0% following the results.

($1 = 0.8998 euros)

(Reporting by Johannes Hellstrom, editing by Helena Soderpalm)

((johannes.hellstrom@thomsonreuters.com; +4687001008; Reuters Messaging: johannes.hellstrom.reuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More