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Deutsche Post profit misses consensus by 48.2% in Q2

Deutsche Post AG said its normalized net income for the second quarter was 18 euro cents per share, compared with the S&P Capital IQ consensus estimate of 35 cents per share.

EPS declined 41.6% year over year from 31 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €227.5 million, a decrease of 39.7% from €377.0 million in the prior-year period.

The normalized profit margin dropped to 1.1% from 2.7% in the year-earlier period.

Total revenue increased 6.5% on an annual basis to €14.70 billion from €13.80 billion, and total operating expenses rose 7.8% year over year to €14.16 billion from €13.14 billion.

Reported net income declined 29.4% year over year to €326.0 million, or 26 cents per share, from €462.0 million, or 38 cents per share.