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Mahle Metal Leve Q2 profit falls 5.0% YOY

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Mahle Metal Leve Q2 profit falls 5.0% YOY

Mahle Metal Leve S.A. said its second-quarter normalized net income amounted to 39 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 41 centavos per share.

EPS fell 5.0% year over year from 41 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 50.4 million reais, a decrease of 5.0% from 53.1 million reais in the prior-year period.

The normalized profit margin declined to 8.2% from 9.0% in the year-earlier period.

Total revenue climbed year over year to 615.3 million reais from 591.6 million reais, and total operating expenses increased 5.7% year over year to 535.4 million reais from 506.6 million reais.

Reported net income decreased 5.9% on an annual basis to 48.6 million reais, or 38 centavos per share, from 51.7 million reais, or 40 centavos per share.

As of Aug. 10, US$1 was equivalent to 3.48 reais.