Gas Natural SDG SA said its normalized net income for the first quarter came to 32 euro cents per share, compared with the S&P Capital IQ consensus estimate of 45 cents per share.
In the prior-year period, the per-share result was a profit of 32 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €322.9 million, compared with €325.1 million in the prior-year period.
The normalized profit margin fell to 4.5% from 5.2% in the year-earlier period.
Total revenue climbed 15.9% year over year to €7.28 billion from €6.28 billion, and total operating expenses climbed 16.8% on an annual basis to €6.42 billion from €5.49 billion.
Reported net income came to €404.0 million, or 40 cents per share, compared with €402.0 million, or 40 cents per share, in the year-earlier period.
