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Alfa Laval profit misses consensus by 40.1% in Q2

Alfa Laval AB said its normalized net income for the second quarter came to 1.08 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.81 kronor per share.

EPS decreased 42.0% year over year from 1.87 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 454.1 million kronor, a decrease of 42.0% from 782.6 million kronor in the prior-year period.

The normalized profit margin declined to 5.1% from 8.7% in the year-earlier period.

Total revenue totaled 8.91 billion kronor, compared with 8.95 billion kronor in the prior-year period, and total operating expenses totaled 7.77 billion kronor, compared with 7.83 billion kronor in the prior-year period.

Reported net income decreased 48.5% year over year to 475.0 million kronor, or 1.13 kronor per share, from 923.0 million kronor, or 2.20 kronor per share.

As of July 17, US$1 was equivalent to 8.30 Swedish kronor.