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MHP profit misses consensus by 96.9% in full year

MHP SE said its normalized net income for the full year amounted to 5 cents per share, compared with the S&P Capital IQ consensus estimate of $1.68 per share.

The per-share result swung to a profit from the prior-year loss of $1.07.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.6 million, compared with a loss of $113.3 million in the year-earlier period.

The normalized profit margin climbed to 0.5% from negative 10.7% in the year-earlier period.

Total revenue climbed 6.9% year over year to $1.14 billion from $1.06 billion, and total operating expenses rose 16.3% year over year to $858.3 million from $738.0 million.

Reported net income totaled $63.0 million, or 59 cents per share, compared to a loss of $120.4 million, or a loss of $1.14 per share, in the year-earlier period.