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Geberit profit misses consensus by 52.2% in Q2

Geberit AG said its normalized net income for the second quarter amounted to CHF2.23 per share, compared with the S&P Capital IQ consensus estimate of CHF4.67 per share.

EPS fell 31.0% year over year from CHF3.24.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF82.4 million, a decrease of 31.0% from CHF119.5 million in the prior-year period.

The normalized profit margin declined to 11.3% from 15.7% in the year-earlier period.

Total revenue declined on an annual basis to CHF732.2 million from CHF761.2 million, and total operating expenses climbed 5.8% on an annual basis to CHF597.9 million from CHF565.1 million.

Reported net income declined 36.9% from the prior-year period to CHF104.7 million, or CHF2.84 per share, from CHF166.0 million, or CHF4.50 per share.