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ENGIE profit misses consensus by 56.3% in H1

ENGIE SA said its normalized net income for the first half came to 24 euro cents per share, compared with the S&P Capital IQ consensus estimate of 55 cents per share.

EPS decreased 57.5% year over year from 57 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €616.4 million, a decline of 57.8% from €1.46 billion in the year-earlier period.

Total revenue grew year over year to €33.10 billion from €32.57 billion, and total operating expenses grew 6.5% on an annual basis to €31.08 billion from €29.20 billion.

Reported net income came to €1.29 billion, or 50 cents per share, compared with €1.28 billion, or 50 cents per share, in the year-earlier period.