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Sydnee Gatewood
Sydnee Gatewood
Articles (2491) 

David Herro Comments on Konecranes

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July 09, 2020 | About:
Konecranes (OHEL:KCR), a Finnish engineering company that specializes in the manufacture and service of overhead cranes and lifting equipment, was the largest contributor to the Funds performance in the quarter. The companys first-quarter earnings report revealed better than expected revenues, particularly within its high-margin services division. While management expects that the coronavirus will slow the companys second-quarter sales and orders across all divisions, it also believes that cost-cutting efforts and improved execution will drive earnings margins higher quarter over quarter. Because Konecranes provides essential services, its technicians have been making most of their planned customer maintenance visits throughout the pandemic. In addition, some customers have asked the company to perform significant maintenance overhauls during temporary plant shutdowns, which has provided further support for Konecranes during this very difficult economic environment. We believe the company is undervalued and remains an attractive investment.

From David Herro (Trades, Portfolio)'s Oakmark Intl Small Cap (Trades, Portfolio) Fund second-quarter 2020 shareholder commentary.

About the author:

Sydnee Gatewood
I am the editorial director at GuruFocus. I have a BA in journalism and a MA in mass communications from Texas Tech University. I have lived in Texas most of my life, but also have roots in New Mexico and Colorado. Follow me on Twitter! @gurusydneerg

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