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Geberit profit misses consensus by 34.7% in Q3

Geberit AG said its third-quarter normalized net income came to CHF2.40 per share, compared with the S&P Capital IQ consensus estimate of CHF3.67 per share.

EPS fell 10.8% year over year from CHF2.69.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF89.3 million, a decrease of 11.5% from CHF100.9 million in the prior-year period.

The normalized profit margin dropped to 13.4% from 19.0% in the year-earlier period.

Total revenue climbed 25.3% year over year to CHF665.1 million from CHF530.9 million, and total operating expenses increased 40.6% from the prior-year period to CHF519.0 million from CHF369.2 million.

Reported net income declined 15.0% year over year to CHF119.9 million, or CHF3.22 per share, from CHF141.0 million, or CHF3.76 per share.