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Geberit profit misses consensus by 46.9% in Q2

Geberit AG said its normalized net income for the second quarter amounted to CHF1.89 per share, compared with the S&P Capital IQ consensus estimate of CHF3.56 per share.

EPS declined 25.4% year over year from CHF2.53.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF70.6 million, a decline of 25.8% from CHF95.1 million in the year-earlier period.

The normalized profit margin dropped to 10.5% from 17.8% in the year-earlier period.

Total revenue climbed 25.4% on an annual basis to CHF670.9 million from CHF535.0 million, and total operating expenses climbed 45.0% from the prior-year period to CHF554.9 million from CHF382.6 million.

Reported net income fell 24.9% from the prior-year period to CHF98.0 million, or CHF2.62 per share, from CHF130.6 million, or CHF3.47 per share.