Wartsila tumbles on Q3 order intake miss
** Finnish engineering group Wartsila WRT1V.HE shares tumble 10% to the bottom of STOXX 600 index .STOXX after its Q3 order intake missed market expectations
** The Q3 order intake of 1,803 million euros missed the Vara Research consensus estimates of 1,919.6 euros
** There was weakness both in marine and especially energy, Inderes analyst Erkki Vesola says, adding "the latter mainly due to the 80% drop in storage orders, which was driven by both MWh (-59% yoy) and the price per MWh".
** "Overall picture of the report mixed, but weighted to the downside," Vesola adds
** EBIT for Q3 came at 192 million euros, beating the 166.2 million euros seen in Vara Research poll
** RBC notes that "items affecting comparability" includes a 29 million euro gain from Social Plan costs, likely a release of provisions from the Trieste plant closure last year
** "Adjusted for this, operating profit was a touch below consensus," it says
Reporting by Tilla Sjaavaag
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