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Kuehne + Nagel profit misses consensus by 16.4% in Q2

Kuehne + Nagel International AG said its normalized net income for the second quarter amounted to CHF1.15 per share, compared with the S&P Capital IQ consensus estimate of CHF1.38 per share.

EPS increased 7.7% year over year from CHF1.07.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF138.8 million, a gain of 7.0% from CHF129.6 million in the prior-year period.

The normalized profit margin increased to 3.4% from 3.0% in the year-earlier period.

Total revenue declined 5.6% on an annual basis to CHF4.13 billion from CHF4.37 billion, and total operating expenses decreased 6.2% year over year to CHF3.91 billion from CHF4.17 billion.

Reported net income increased 6.8% from the prior-year period to CHF173.0 million, or CHF1.44 per share, from CHF162.0 million, or CHF1.34 per share.