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HeidelbergCement profit misses consensus by 16.6% in Q2

HeidelbergCement AG said its second-quarter normalized net income was €1.65 per share, compared with the S&P Capital IQ consensus estimate of €1.98 per share.

EPS increased 28.6% year over year from €1.28.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €327.6 million, an increase of 35.8% from €241.2 million in the year-earlier period.

The normalized profit margin rose to 7.1% from 6.7% in the year-earlier period.

Total revenue grew 28.9% year over year to €4.61 billion from €3.58 billion, and total operating expenses grew 31.5% from the prior-year period to €3.98 billion from €3.03 billion.

Reported net income increased 11.8% from the prior-year period to €369.7 million, or €1.86 per share, from €330.8 million, or €1.76 per share.