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Gores Holdings profit misses consensus by 20.6% in Q2

Hostess Brands Inc. said its normalized net income for the second quarter came to 14 cents per share, compared with the S&P Capital IQ consensus estimate of 18 cents per share.

EPS fell 92.9% year over year from $2.00.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $15.2 million, a decline of 31.1% from $22.1 million in the year-earlier period.

The normalized profit margin dropped to 7.5% from 11.5% in the year-earlier period.

Total revenue rose 5.6% year over year to $203.2 million from $192.3 million, and total operating expenses climbed 12.1% from the prior-year period to $153.4 million from $136.9 million.

Reported net income decreased 32.6% from the prior-year period to $19.3 million, or 18 cents per share, from $28.6 million, or $2.60 per share.