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Kuehne + Nagel profit misses consensus by 24.8% in Q3

Kuehne + Nagel International AG said its normalized net income for the third quarter was CHF1.24 per share, compared with the S&P Capital IQ consensus estimate of CHF1.65 per share.

EPS increased year over year from CHF1.19.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF148.4 million, an increase from CHF142.8 million in the year-earlier period.

The normalized profit margin fell to 3.2% from 3.5% in the year-earlier period.

Total revenue climbed 14.9% on an annual basis to CHF4.71 billion from CHF4.10 billion, and total operating expenses rose 15.5% on an annual basis to CHF4.48 billion from CHF3.88 billion.

Reported net income grew year over year to CHF183.0 million, or CHF1.53 per share, from CHF176.0 million, or CHF1.47 per share.