0824 GMT - Heidelberg Materials' third-quarter results were more resilient than those of competitors that have reported earnings so far, Capital Markets Research analysts Anthony Codling and Oliver Dyson say in a research note. The German building materials group posted revenue and earnings up on year, despite economic weakness in Europe and unfavorable weather conditions in North America. The company tweaked its results from current operations guidance range, a small change, but meaningful given the economic backdrop and weather patterns, the analysts say. "In our view, the Group continues to lead the way on innovation and the launch of its 'Transformation Accelerator' cost program should further enhance the operating result," they say. Shares trade 4.4% higher at 112.50 euros. (nina.kienle@wsj.com)
(END) Dow Jones Newswires
November 07, 2024 03:25 ET (08:25 GMT)
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