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Iberdrola profit misses consensus by 21.1% in Q1

Iberdrola SA said its normalized net income for the first quarter came to 10 euro cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.

EPS climbed 5.6% year over year from 10 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €655.4 million, an increase of 5.9% from €619.0 million in the year-earlier period.

The normalized profit margin rose to 7.5% from 7.4% in the year-earlier period.

Total revenue increased 5.5% on an annual basis to €8.78 billion from €8.32 billion, and total operating expenses climbed 5.5% year over year to €7.44 billion from €7.05 billion.

Reported net income totaled €840.8 million, or 13 cents per share, compared with €847.0 million, or 13 cents per share, in the year-earlier period.