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Deutsche Post profit misses consensus by 38.0% in Q1

Deutsche Post AG said its first-quarter normalized net income was 27 euro cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.

EPS decreased 5.9% year over year from 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €340.9 million, a decline of 6.9% from €366.1 million in the prior-year period.

The normalized profit margin dropped to 1.4% from 2.7% in the year-earlier period.

Total revenue rose 8.0% on an annual basis to €14.87 billion from €13.78 billion, and total operating expenses increased 8.1% on an annual basis to €14.22 billion from €13.15 billion.

Reported net income declined year over year to €496.0 million, or 39 cents per share, from €505.0 million, or 40 cents per share.