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Evonik Industries profit misses consensus by 36.0% in Q1


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Evonik Industries profit misses consensus by 36.0% in Q1

Evonik Industries AG said its normalized net income for the first quarter came to 33 euro cents per share, compared with the S&P Capital IQ consensus estimate of 52 cents per share.

EPS decreased 35.3% year over year from 52 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €157.3 million, a decline of 34.1% from €238.5 million in the year-earlier period.

The normalized profit margin fell to 4.3% from 7.7% in the year-earlier period.

Total revenue rose 18.6% on an annual basis to €3.68 billion from €3.11 billion, and total operating expenses rose 25.6% from the prior-year period to €3.35 billion from €2.67 billion.

Reported net income declined 33.3% from the prior-year period to €160.0 million, or 34 cents per share, from €240.0 million, or 52 cents per share.