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Hexagon AB profit misses consensus by 22.0% in Q2

Hexagon AB said its normalized net income for the second quarter was 29 euro cents per share, compared with the S&P Capital IQ consensus estimate of 37 cents per share.

EPS rose 28.2% year over year from 23 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €104.8 million, an increase of 29.1% from €81.2 million in the prior-year period.

The normalized profit margin rose to 13.4% from 12.8% in the year-earlier period.

Total revenue rose 22.8% on an annual basis to €780.7 million from €635.6 million, and total operating expenses rose 21.7% year over year to €603.5 million from €496.0 million.

Reported net income rose 28.5% year over year to €133.2 million, or 37 cents per share, from €103.7 million, or 29 cents per share.