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WEG SA profit misses consensus by 42.5% in Q3

WEG SA said its normalized net income for the third quarter was 11 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 19 centavos per share.

EPS declined 13.2% year over year from 12 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 174.8 million reais, a decline of 13.2% from 201.4 million reais in the year-earlier period.

The normalized profit margin declined to 6.9% from 9.8% in the year-earlier period.

Total revenue grew 23.9% year over year to 2.55 billion reais from 2.06 billion reais, and total operating expenses climbed 26.3% year over year to 2.23 billion reais from 1.77 billion reais.

Reported net income increased year over year to 265.4 million reais, or 16 centavos per share, from 258.6 million reais, or 16 centavos per share.

As of Oct. 28, US$1 was equivalent to 3.86 reais.