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Stora Enso Q2 profit climbs 6.9% YOY

Stora Enso Oyj said its second-quarter normalized net income was 15 euro cents per share, compared with the S&P Capital IQ consensus estimate of 18 cents per share.

EPS climbed 6.9% year over year from 14 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €122.4 million, a gain of 6.9% from €114.5 million in the year-earlier period.

The normalized profit margin climbed to 4.8% from 4.5% in the year-earlier period.

Total revenue came to €2.53 billion, compared with €2.53 billion in the prior-year period, and total operating expenses totaled €2.32 billion, compared with €2.31 billion in the year-earlier period.

Reported net income grew 18.7% on an annual basis to €150.1 million, or 19 cents per share, from €126.4 million, or 16 cents per share.