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HOCHTIEF Q3 profit climbs 56.3% YOY

HOCHTIEF AG said its third-quarter normalized net income came to €1.53 per share, compared with the S&P Capital IQ consensus estimate of €1.59 per share.

EPS rose 56.3% year over year from 98 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €98.3 million, a gain of 56.3% from €62.8 million in the year-earlier period.

The normalized profit margin climbed to 1.8% from 1.2% in the year-earlier period.

Total revenue rose 9.6% on an annual basis to €5.52 billion from €5.03 billion, and total operating expenses climbed 8.7% from the prior-year period to €5.31 billion from €4.89 billion.

Reported net income increased 37.0% on an annual basis to €113.7 million, or €1.77 per share, from €83.0 million, or €1.29 per share.