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Solvay profit misses consensus by 31.1% in Q3

Solvay SA said its normalized net income for the third quarter was €1.34 per share, compared with the S&P Capital IQ consensus estimate of €1.94 per share.

EPS climbed year over year from €1.29.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €139.5 million, an increase from €133.9 million in the prior-year period.

The normalized profit margin dropped to 5.3% from 5.4% in the year-earlier period.

Total revenue climbed 5.1% on an annual basis to €2.61 billion from €2.48 billion, and total operating expenses rose 6.0% on an annual basis to €2.31 billion from €2.18 billion.

Reported net income rose on an annual basis to €184.5 million, or €1.77 per share, from €177.1 million, or €1.70 per share.