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Kuehne + Nagel profit misses consensus by 19.0% in Q2

Kuehne + Nagel International AG said its normalized net income for the second quarter amounted to CHF1.29 per share, compared with the S&P Capital IQ consensus estimate of CHF1.59 per share.

EPS rose year over year from CHF1.25.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF155.0 million, an increase from CHF151.3 million in the prior-year period.

The normalized profit margin fell to 3.4% from 3.7% in the year-earlier period.

Total revenue rose 9.2% year over year to CHF4.52 billion from CHF4.14 billion, and total operating expenses climbed 9.6% from the prior-year period to CHF4.27 billion from CHF3.90 billion.

Reported net income rose from the prior-year period to CHF191.0 million, or CHF1.59 per share, from CHF187.0 million, or CHF1.55 per share.