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Legrand profit misses consensus by 15.1% in Q1

Legrand SA said its normalized net income for the first quarter came to 52 euro cents per share, compared with the S&P Capital IQ consensus estimate of 61 cents per share.

EPS rose 17.9% year over year from 44 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €139.1 million, a gain of 17.8% from €118.1 million in the year-earlier period.

The normalized profit margin rose to 10.6% from 9.9% in the year-earlier period.

Total revenue rose 10.9% year over year to €1.32 billion from €1.19 billion, and total operating expenses climbed 10.1% from the prior-year period to €1.07 billion from €973.6 million.

Reported net income increased 17.0% from the prior-year period to €149.0 million, or 56 cents per share, from €127.4 million, or 47 cents per share.