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Enel SpA profit misses consensus by 16.7% in Q2

Enel SpA said its second-quarter normalized net income came to 6 euro cents per share, compared with the S&P Capital IQ consensus estimate of 7 cents per share.

EPS fell 8.7% year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €600.5 million, an increase from €585.4 million in the year-earlier period.

The normalized profit margin fell to 2.9% from 3.4% in the year-earlier period.

Total revenue decreased year over year to €16.83 billion from €17.17 billion, and total operating expenses declined from the prior-year period to €14.72 billion from €15.00 billion.

Reported net income grew 28.4% on an annual basis to €1.02 billion, or 10 cents per share, from €797.0 million, or 9 cents per share.