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Wartsila profit misses consensus by 30.0% in Q3

Wärtsilä Oyj Abp said its normalized net income for the third quarter came to 36 euro cents per share, compared with the S&P Capital IQ consensus estimate of 51 cents per share.

EPS declined year over year from 37 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €71.3 million, compared with €71.9 million in the prior-year period.

The normalized profit margin declined to 6.0% from 6.7% in the year-earlier period.

Total revenue rose 9.2% year over year to €1.18 billion from €1.08 billion, and total operating expenses grew 9.5% year over year to €1.05 billion from €959.0 million.

Reported net income totaled €85.0 million, or 43 cents per share, compared with €84.0 million, or 43 cents per share, in the prior-year period.