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MHP Q3 profit climbs 20.6% YOY

MHP SE said its third-quarter normalized net income amounted to 7 cents per share, an increase of 24.6% from 5 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.8 million, a gain of 20.6% from $5.6 million in the year-earlier period.

The normalized profit margin climbed to 2.0% from 1.4% in the year-earlier period.

Total revenue declined 12.5% year over year to $347.0 million from $396.5 million, and total operating expenses increased 10.8% year over year to $270.4 million from $244.1 million.

Reported net income totaled $19.4 million, or 19 cents per share, compared to a loss of $37.0 million, or a loss of 35 cents per share, in the year-earlier period.