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HOCHTIEF profit misses consensus by 19.4% in Q2

HOCHTIEF AG said its second-quarter normalized net income came to €1.30 per share, compared with the S&P Capital IQ consensus estimate of €1.61 per share.

EPS climbed 21.4% year over year from €1.07.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €83.6 million, a gain of 21.4% from €68.8 million in the prior-year period.

The normalized profit margin climbed to 1.4% from 1.4% in the year-earlier period.

Total revenue increased 18.5% on an annual basis to €5.87 billion from €4.95 billion, and total operating expenses grew 18.5% on an annual basis to €5.71 billion from €4.82 billion.

Reported net income increased 31.0% from the prior-year period to €100.8 million, or €1.57 per share, from €76.9 million, or €1.20 per share.