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Energias de Portugal profit misses consensus by 38.7% in Q2

EDP - Energias de Portugal SA said its normalized net income for the second quarter came to 4 euro cents per share, compared with the S&P Capital IQ consensus estimate of 6 cents per share.

EPS declined 25.5% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €144.2 million, a decline of 16.3% from €172.3 million in the year-earlier period.

The normalized profit margin dropped to 4.0% from 5.1% in the year-earlier period.

Total revenue climbed 8.4% on an annual basis to €3.64 billion from €3.36 billion, and total operating expenses increased 11.3% on an annual basis to €3.20 billion from €2.87 billion.

Reported net income totaled €235.1 million, or 6 cents per share, compared with €209.4 million, or 6 cents per share, in the year-earlier period.