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Lufthansa Q3 profit falls YOY

Deutsche Lufthansa AG said its normalized net income for the third quarter amounted to €1.96 per share, compared with the S&P Capital IQ consensus estimate of €2.29 per share.

EPS decreased 18.9% year over year from €2.41.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €909.5 million, a decline of 18.9% from €1.12 billion in the year-earlier period.

The normalized profit margin fell to 9.3% from 12.7% in the year-earlier period.

Total revenue grew 11.1% year over year to €9.81 billion from €8.83 billion, and total operating expenses rose 19.5% from the prior-year period to €8.50 billion from €7.11 billion.

Reported net income fell 16.9% year over year to €1.18 billion, or €2.54 per share, from €1.42 billion, or €3.06 per share.