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Evonik Industries profit misses consensus by 28.6% in Q3

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Evonik Industries profit misses consensus by 28.6% in Q3

Evonik Industries AG said its third-quarter normalized net income came to 43 euro cents per share, compared with the S&P Capital IQ consensus estimate of 61 cents per share.

EPS climbed 20.6% year over year from 36 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €203.9 million, an increase of 22.5% from €166.4 million in the year-earlier period.

The normalized profit margin increased to 6.1% from 5.1% in the year-earlier period.

Total revenue grew on an annual basis to €3.37 billion from €3.24 billion, and total operating expenses came to €2.92 billion, compared with €2.91 billion in the year-earlier period.

Reported net income rose 13.9% year over year to €188.0 million, or 40 cents per share, from €165.0 million, or 36 cents per share.