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Alfa Laval profit misses consensus by 21.4% in Q3

Alfa Laval AB said its normalized net income for the third quarter came to 1.50 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.91 kronor per share.

EPS decreased 15.0% year over year from 1.77 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 629.5 million kronor, a decline of 15.0% from 740.6 million kronor in the prior-year period.

The normalized profit margin fell to 7.7% from 8.6% in the year-earlier period.

Total revenue fell on an annual basis to 8.17 billion kronor from 8.58 billion kronor, and total operating expenses fell 5.2% year over year to 7.12 billion kronor from 7.52 billion kronor.

Reported net income came to 669.0 million kronor, or 1.59 kronor per share, compared with a loss of 111.0 million kronor, or a loss of 26 öre per share, in the year-earlier period.

As of Oct. 25, US$1 was equivalent to 8.22 Swedish kronor.