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ACS Group Q2 profit climbs 133.3% YOY

ACS SA said its normalized net income for the second quarter was 47 euro cents per share, compared with the S&P Capital IQ consensus estimate of 46 cents per share.

EPS rose 127.6% year over year from 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €148.5 million, an increase of 133.3% from €63.7 million in the year-earlier period.

The normalized profit margin increased to 1.6% from 0.8% in the year-earlier period.

Total revenue climbed 12.1% year over year to €9.03 billion from €8.05 billion, and total operating expenses climbed 11.8% from the prior-year period to €8.66 billion from €7.75 billion.

Reported net income grew 25.0% on an annual basis to €183.0 million, or 58 cents per share, from €146.4 million, or 48 cents per share.