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Mahle Metal Leve profit beats consensus by 69.5% in Q3

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Mahle Metal Leve profit beats consensus by 69.5% in Q3

Mahle Metal Leve S.A. said its normalized net income for the third quarter was 57 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 34 centavos per share.

EPS increased 25.3% year over year from 46 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 73.7 million reais, an increase of 25.3% from 58.8 million reais in the year-earlier period.

The normalized profit margin rose to 11.0% from 9.9% in the year-earlier period.

Total revenue climbed 12.1% on an annual basis to 667.9 million reais from 595.9 million reais, and total operating expenses climbed 10.9% on an annual basis to 567.6 million reais from 512.1 million reais.

Reported net income grew 19.1% on an annual basis to 71.1 million reais, or 55 centavos per share, from 59.7 million reais, or 47 centavos per share.

As of Nov. 9, US$1 was equivalent to 3.80 reais.