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Hexagon AB profit misses consensus by 24.5% in Q2

Hexagon AB said its second-quarter normalized net income amounted to 33 euro cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.

EPS climbed 5.7% year over year from 31 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €119.2 million, a gain of 6.0% from €112.4 million in the prior-year period.

The normalized profit margin dropped to 13.8% from 14.1% in the year-earlier period.

Total revenue increased 8.7% on an annual basis to €864.9 million from €795.8 million, and total operating expenses increased 9.4% from the prior-year period to €665.9 million from €608.7 million.

Reported net income rose 5.3% on an annual basis to €155.6 million, or 43 cents per share, from €147.8 million, or 41 cents per share.