Keppel’s 3Q earnings fall 38.1% to $224.5 mil; misses expectations

SINGAPORE (Oct 20): Keppel Corp reported a 38.1% fall in its 3Q earnings to $224.5 million from a year ago on lower revenue and profitability of its Offshore and Marine (O&M) and Infrastructure divisions.

For the three months to Sept, revenue fell 40.2% to $1.46 billion. Keppel was expected to post earnings of $290.9 million on $1.63 billion revenue, according to Reuters.

Revenue from the O&M division, which made up 35% of Keppel’s total revenue in the third quarter, fell 63% to $516 million.

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