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Wartsila profit misses consensus by 35.5% in Q2

Wärtsilä Oyj Abp said its normalized net income for the second quarter came to 33 euro cents per share, compared with the S&P Capital IQ consensus estimate of 51 cents per share.

EPS increased 94.1% year over year from 17 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €64.4 million, an increase of 91.4% from €33.6 million in the prior-year period.

The normalized profit margin climbed to 5.0% from 2.8% in the year-earlier period.

Total revenue rose 8.0% year over year to €1.29 billion from €1.20 billion, and total operating expenses rose 6.7% from the prior-year period to €1.18 billion from €1.10 billion.

Reported net income grew 100.0% from the prior-year period to €76.0 million, or 39 cents per share, from €38.0 million, or 19 cents per share.