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Wartsila profit misses consensus by 41.3% in Q1

Wärtsilä Oyj Abp said its normalized net income for the first quarter was 25 euro cents per share, compared with the S&P Capital IQ consensus estimate of 43 cents per share.

EPS declined 8.0% year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €50.3 million, a decrease of 9.0% from €55.3 million in the year-earlier period.

The normalized profit margin dropped to 5.1% from 5.5% in the year-earlier period.

Total revenue totaled €988.0 million, compared with €997.0 million in the year-earlier period, and total operating expenses fell on an annual basis to €890.0 million from €915.0 million.

Reported net income decreased 8.7% on an annual basis to €63.0 million, or 32 cents per share, from €69.0 million, or 35 cents per share.