Covestro (OTCMKTS:COVTY) Posts Earnings Results, Misses Estimates By $0.30 EPS

Covestro (OTCMKTS:COVTY) released its quarterly earnings results on Wednesday. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.30), Zacks reports. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.95 billion.

Covestro Stock Performance

Shares of Covestro stock opened at $30.51 on Friday. Covestro has a one year low of $24.12 and a one year high of $32.60. The stock has a market cap of $11.53 billion, a price-to-earnings ratio of -41.23 and a beta of 1.17. The stock has a 50 day moving average price of $29.63 and a 200-day moving average price of $30.33.

Covestro Company Profile

Covestro AG supplies high-tech polymer materials and application solutions. It operates in two segments, Performance Materials, and Solutions & Specialties. The Performance Materials segment develops, produces, and supplies high-performance materials, such as polyurethanes and polycarbonates, and base chemicals, which include diphenylmethane diisocyanate (MDI), toluylene diisocyanate, long-chain polyols, and polycarbonate resins for use in furniture and wood processing, construction, automotive, and transportation industries, as well as roof structures, insulation for buildings and refrigerators, mattresses, car seats, and other applications.