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Leonardo S.p.A. profit beats consensus by 25.7% in Q3

Leonardo SpA said its third-quarter normalized net income was 13 euro cents per share, compared with the S&P Capital IQ consensus estimate of 10 cents per share.

EPS climbed 100.4% year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €72.6 million, a gain of 100.3% from €36.3 million in the year-earlier period.

The normalized profit margin rose to 1.7% from 1.3% in the year-earlier period.

Total revenue climbed on an annual basis to €3.03 billion from €2.90 billion, and total operating expenses rose on an annual basis to €2.79 billion from €2.73 billion.

Reported net income came to €46.0 million, or 8 cents per share, compared with a loss of €3.0 million, or a loss of 1 cents per share, in the prior-year period.