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Kuehne + Nagel Q3 profit climbs 17.7% YOY

Kuehne + Nagel International AG said its normalized net income for the third quarter came to CHF1.25 per share, compared with the S&P Capital IQ consensus estimate of CHF1.40 per share.

EPS increased 17.7% year over year from CHF1.06.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF149.6 million, an increase of 17.7% from CHF127.1 million in the year-earlier period.

The normalized profit margin increased to 3.6% from 2.8% in the year-earlier period.

Total revenue decreased 6.7% year over year to CHF4.20 billion from CHF4.50 billion, and total operating expenses decreased 7.5% on an annual basis to CHF3.97 billion from CHF4.29 billion.

Reported net income rose 14.9% from the prior-year period to CHF185.0 million, or CHF1.54 per share, from CHF161.0 million, or CHF1.34 per share.