Stora Enso Oyj said its first-quarter normalized net income was 14 euro cents per share, compared with the S&P Capital IQ consensus estimate of 16 cents per share.
EPS climbed 26.3% year over year from 11 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €106.9 million, an increase of 26.3% from €84.6 million in the prior-year period.
The normalized profit margin increased to 4.3% from 3.3% in the year-earlier period.
Total revenue declined on an annual basis to €2.49 billion from €2.57 billion, and total operating expenses fell 6.5% on an annual basis to €2.26 billion from €2.42 billion.
Reported net income increased 23.1% year over year to €126.4 million, or 16 cents per share, from €102.6 million, or 13 cents per share.
