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LafargeHolcim Ltd profit misses consensus by 79.8% in Q1

LafargeHolcim Ltd said its first-quarter normalized net income came to 4 Swiss centimes per share, compared with the S&P Capital IQ consensus estimate of 17 centimes per share.

EPS fell 66.1% year over year from 10 centimes.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF12.0 million, a decline of 68.8% from CHF38.5 million in the prior-year period.

The normalized profit margin declined to 0.2% from 1.0% in the year-earlier period.

Total revenue fell on an annual basis to CHF3.97 billion from CHF4.03 billion, and total operating expenses came to CHF3.71 billion, compared with CHF3.74 billion in the year-earlier period.

Reported net income grew 292.4% on an annual basis to CHF310.0 million, or 90 centimes per share, from CHF79.0 million, or 21 centimes per share.