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ACS Group Q3 loss widens 10.1% YOY

ACS SA said its normalized net income for the third quarter was a loss of 38 euro cents per share, compared with the S&P Capital IQ consensus estimate of 52 cents per share.

The per-share loss increased 11.1% year over year from 34 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €115.4 million, compared with a loss of €104.8 million in the year-earlier period.

Total revenue came to €8.50 billion, compared with €8.48 billion in the year-earlier period, and total operating expenses grew year over year to €8.32 billion from €8.18 billion.

Reported net income grew 172.4% from the prior-year period to €167.0 million, or 54 cents per share, from €61.3 million, or 20 cents per share.