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Atlantia profit misses consensus by 28.5% in Q2

Atlantia SpA said its second-quarter normalized net income came to 37 euro cents per share, compared with the S&P Capital IQ consensus estimate of 52 cents per share.

EPS rose 31.3% year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €311.3 million, a gain of 32.5% from €235.1 million in the year-earlier period.

The normalized profit margin climbed to 18.7% from 14.5% in the year-earlier period.

Total revenue increased year over year to €1.67 billion from €1.62 billion, and total operating expenses fell 6.7% from the prior-year period to €1.02 billion from €1.10 billion.

Reported net income rose 36.4% on an annual basis to €338.6 million, or 40 cents per share, from €248.3 million, or 30 cents per share.