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Luxottica Q2 profit climbs 28.8% YOY

Luxottica Group SpA said its second-quarter normalized net income came to 61 euro cents per share, compared with the S&P Capital IQ consensus estimate of 64 cents per share.

EPS increased 28.0% year over year from 48 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €295.8 million, a gain of 28.8% from €229.7 million in the prior-year period.

The normalized profit margin increased to 12.6% from 11.2% in the year-earlier period.

Total revenue increased 19.3% on an annual basis to €2.46 billion from €2.06 billion, and total operating expenses increased 17.6% from the prior-year period to €1.96 billion from €1.66 billion.

Reported net income increased 25.2% on an annual basis to €293.5 million, or 61 cents per share, from €234.4 million, or 49 cents per share.