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Wartsila profit misses consensus by 19.3% in Q2

Wärtsilä Oyj Abp said its second-quarter normalized net income amounted to 43 euro cents per share, compared with the S&P Capital IQ consensus estimate of 54 cents per share.

EPS rose 16.2% year over year from 37 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €85.5 million, a gain of 15.9% from €73.8 million in the year-earlier period.

The normalized profit margin increased to 7.0% from 6.6% in the year-earlier period.

Total revenue grew 10.2% year over year to €1.23 billion from €1.12 billion, and total operating expenses climbed 10.0% on an annual basis to €1.10 billion from €998.0 million.

Reported net income grew 17.6% year over year to €107.0 million, or 54 cents per share, from €91.0 million, or 46 cents per share.