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Legrand Q4 profit climbs 9.4% YOY

Legrand SA said its normalized net income for the fourth quarter was 49 euro cents per share, compared with the S&P Capital IQ consensus estimate of 56 cents per share.

EPS rose 9.7% year over year from 45 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €132.3 million, a gain of 9.4% from €121.0 million in the year-earlier period.

The normalized profit margin increased to 10.1% from 9.7% in the year-earlier period.

Total revenue climbed 5.2% year over year to €1.31 billion from €1.25 billion, and total operating expenses rose 5.4% from the prior-year period to €1.09 billion from €1.03 billion.

Reported net income grew 50.8% year over year to €202.9 million, or 76 cents per share, from €134.5 million, or 50 cents per share.

For the year, the company's normalized net income totaled €1.97 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of €2.24.

EPS rose from €1.88 in the prior year.

Normalized net income was €528.8 million, a rise from €504.9 million in the prior year.

Full-year total revenue increased year over year to €5.02 billion from €4.81 billion, and total operating expenses grew year over year to €4.08 billion from €3.92 billion.

The company said reported net income rose year over year to €628.5 million, or €2.34 per share, in the full year, from €550.7 million, or €2.05 per share.