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Vestas Wind Systems profit beats consensus by 15.6% in Q3


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Vestas Wind Systems profit beats consensus by 15.6% in Q3

Vestas Wind Systems A/S said its normalized net income for the third quarter amounted to 78 euro cents per share, compared with the S&P Capital IQ consensus estimate of 67 cents per share.

EPS climbed 91.9% year over year from 41 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €174.4 million, an increase of 93.8% from €90.0 million in the prior-year period.

The normalized profit margin climbed to 8.2% from 5.0% in the year-earlier period.

Total revenue climbed 16.9% year over year to €2.12 billion from €1.81 billion, and total operating expenses rose 14.4% from the prior-year period to €1.89 billion from €1.65 billion.

Reported net income increased 102.0% from the prior-year period to €206.0 million, or 92 cents per share, from €102.0 million, or 46 cents per share.