Finland's Wartsila Q2 earnings miss forecast
HELSINKI, July 20 (Reuters) - Finnish marine and energy equipment maker Wartsila on Tuesday reported weaker-than-expected second-quarter earnings and said the coronavirus pandemic continued to impact the cruise industry and power plant orders.
"In our key energy markets, the market situation stabilised, but many investments in new power plant capacity still continued to be postponed," Chief Executive Hakan Agnevall said in a statement.
He added the company estimates third-quarter demand to be better than last year.
Wartsila's operating profit rose to 58 million euros ($68.32 million) from 49 million a year earlier, while 12 analysts polled by Refinitiv on average expected 73.74 million.
Wartsila's order intake rose 14% to 1.15 billion euros compared with 1.01 billion a year prior.
While analysts had expected earnings per share to rise to 0.09 euros, they rose to 0.06 euros from 0.04 euros. ($1 = 0.8490 euros) (Reporting by Essi Lehto; Editing by Christopher Cushing and Louise Heavens)
