May 4, 2018 / 11:15 AM / 7 months ago

Hexagon Q1 operating profit just misses forecasts

STOCKHOLM, May 4 (Reuters) - Swedish industrial technology firm Hexagon reported first-quarter core earnings below analyst forecasts citing currency headwinds on Friday, and said the oil and gas market had remained challenging.

Adjusted quarterly operating earnings at Stockholm-listed Hexagon rose 12 percent to 198.3 million euros ($237.3 million)from 176.4 million in the year-ago quarter, missing a 200 million forecast in a poll of analysts. Organic sales growth was 7 percent in the quarter, a decrease from the record 10 percent growth seen in the fourth quarter, and lower than the mean forecast for an 8 percent rise. ($1 = 0.8357 euros) (Reporting by Johannes Hellstrom and Esha Vaish, editing by Helena Soderpalm)

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