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Symrise AG profit misses consensus by 16.4% in Q3

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Symrise AG profit misses consensus by 16.4% in Q3

Symrise AG said its third-quarter normalized net income amounted to 43 euro cents per share, compared with the S&P Capital IQ consensus estimate of 52 cents per share.

EPS increased year over year from 41 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €56.4 million, a gain of 5.0% from €53.7 million in the year-earlier period.

The normalized profit margin dropped to 8.7% from 9.1% in the year-earlier period.

Total revenue increased 9.9% year over year to €646.2 million from €588.2 million, and total operating expenses increased 10.1% year over year to €541.4 million from €491.8 million.

Reported net income rose 10.5% year over year to €65.7 million, or 51 cents per share, from €59.5 million, or 46 cents per share.