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UPM-Kymmene profit misses consensus by 38.4% in Q2

UPM-Kymmene Oyj said its normalized net income for the second quarter was 26 euro cents per share, compared with the S&P Capital IQ consensus estimate of 42 cents per share.

EPS declined 5.1% year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €141.3 million, a decrease from €147.1 million in the year-earlier period.

The normalized profit margin declined to 5.7% from 6.0% in the year-earlier period.

Total revenue totaled €2.46 billion, compared with €2.44 billion in the year-earlier period, and total operating expenses climbed year over year to €2.23 billion from €2.20 billion.

Reported net income increased year over year to €205.0 million, or 38 cents per share, from €197.0 million, or 37 cents per share.