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Solvay Q2 profit climbs 82.7% YOY

Solvay SA said its normalized net income for the second quarter amounted to €2.10 per share, compared with the S&P Capital IQ consensus estimate of €2.03 per share.

EPS climbed 87.9% year over year from €1.12.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €218.8 million, a gain of 82.7% from €119.8 million in the year-earlier period.

Total revenue grew 48.3% on an annual basis to €3.19 billion from €2.15 billion, and total operating expenses grew 46.8% on an annual basis to €2.76 billion from €1.88 billion.

Reported net income grew 64.3% year over year to €194.6 million, or €1.87 per share, from €118.5 million, or €1.11 per share.