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Hexagon AB profit misses consensus by 23.3% in Q3

Hexagon AB said its normalized net income for the third quarter was 33 euro cents per share, compared with the S&P Capital IQ consensus estimate of 43 cents per share.

EPS increased 10.6% year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €118.6 million, an increase of 10.6% from €107.3 million in the year-earlier period.

The normalized profit margin climbed to 13.9% from 13.8% in the year-earlier period.

Total revenue increased 9.3% on an annual basis to €852.4 million from €779.7 million, and total operating expenses increased 8.9% on an annual basis to €653.8 million from €600.3 million.

Reported net income grew 10.3% from the prior-year period to €155.5 million, or 43 cents per share, from €141.0 million, or 39 cents per share.