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Neste Q1 profit climbs YOY

Neste Oyj said its first-quarter normalized net income was 57 euro cents per share, compared with the S&P Capital IQ consensus estimate of 63 cents per share.

EPS rose year over year from 56 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €146.5 million, a gain from €142.8 million in the year-earlier period.

The normalized profit margin fell to 4.8% from 6.2% in the year-earlier period.

Total revenue climbed 33.2% on an annual basis to €3.07 billion from €2.31 billion, and total operating expenses rose 35.2% year over year to €2.80 billion from €2.07 billion.

Reported net income fell 6.1% from the prior-year period to €200.0 million, or 78 cents per share, from €213.0 million, or 83 cents per share.