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Legrand profit misses consensus by 15.0% in Q3

Legrand SA said its normalized net income for the third quarter was 46 euro cents per share, compared with the S&P Capital IQ consensus estimate of 54 cents per share.

EPS rose 6.3% year over year from 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €123.4 million, a gain of 6.3% from €116.1 million in the year-earlier period.

The normalized profit margin increased to 10.7% from 10.6% in the year-earlier period.

Total revenue climbed year over year to €1.15 billion from €1.10 billion, and total operating expenses increased on an annual basis to €936.5 million from €895.5 million.

Reported net income increased on an annual basis to €132.8 million, or 49 cents per share, from €128.3 million, or 48 cents per share.