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HeidelbergCement profit misses consensus by 21.5% in Q3

HeidelbergCement AG said its normalized net income for the third quarter amounted to €1.63 per share, compared with the S&P Capital IQ consensus estimate of €2.08 per share.

EPS rose 19.6% year over year from €1.37.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €307.3 million, an increase of 19.9% from €256.3 million in the year-earlier period.

The normalized profit margin rose to 8.5% from 7.3% in the year-earlier period.

Total revenue rose year over year to €3.61 billion from €3.49 billion, and total operating expenses grew from the prior-year period to €2.99 billion from €2.92 billion.

Reported net income grew 30.1% year over year to €431.0 million, or €2.29 per share, from €331.4 million, or €1.77 per share.