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Atlas Copco Q3 profit climbs 29.9% YOY

Atlas Copco AB said its normalized net income for the third quarter came to 2.59 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 2.97 kronor per share.

EPS rose 29.8% year over year from 1.99 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.15 billion kronor, an increase of 29.9% from 2.42 billion kronor in the prior-year period.

The normalized profit margin increased to 12.2% from 10.3% in the year-earlier period.

Total revenue increased 9.0% year over year to 25.72 billion kronor from 23.59 billion kronor, and total operating expenses rose 5.0% on an annual basis to 20.41 billion kronor from 19.45 billion kronor.

Reported net income rose 31.5% from the prior-year period to 3.78 billion kronor, or 3.10 kronor per share, from 2.87 billion kronor, or 2.36 kronor per share.

As of Oct. 20, US$1 was equivalent to 8.31 Swedish kronor.