Delay to orders in U.S., Spain and Germany cited for lower forecasts
Shares in Vestas Wind Systems slumped as much as 26% Wednesday after the Danish wind-turbine manufacturer slashed its outlook for the year and reported second-quarter results that fell short of market expectations.
The group said it swung to a second-quarter net loss of 119 million euros ($153 million) from a profit of €43 million a year earlier. Revenue fell 17% to €1.01 billion as the group's top line felt the impact of its low order intake last year.
Analysts polled by Dow Jones Newswires had expected a loss of €45 million....MORE