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Thule Group profit misses consensus by 19.1% in Q3

Thule Group AB (publ) said its third-quarter normalized net income amounted to 1.43 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.77 kronor per share.

EPS increased 17.9% year over year from 1.21 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 145.6 million kronor, an increase of 20.1% from 121.3 million kronor in the year-earlier period.

The normalized profit margin climbed to 10.8% from 9.0% in the year-earlier period.

Total revenue climbed on an annual basis to 1.37 billion kronor from 1.34 billion kronor, and total operating expenses fell on an annual basis to 1.12 billion kronor from 1.14 billion kronor.

Reported net income rose 9.5% year over year to 162.0 million kronor, or 1.59 kronor per share, from 148.0 million kronor, or 1.48 kronor per share.

As of Oct. 28, US$1 was equivalent to 9.04 Swedish kronor.