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Raisio profit misses consensus by 18.7% in Q1

Raisio PLC said its first-quarter normalized net income came to 4 euro cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.

EPS climbed year over year from 1 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €5.8 million, an increase from €2.3 million in the prior-year period.

The normalized profit margin rose to 4.7% from 1.9% in the year-earlier period.

Total revenue climbed 5.0% year over year to €122.5 million from €116.7 million, and total operating expenses came to €112.9 million, compared with €112.8 million in the prior-year period.

Reported net income rose from the prior-year period to €7.5 million, or 5 cents per share, from €2.7 million, or 2 cents per share.