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Gas Natural SDG profit misses consensus by 26.1% in Q3

Gas Natural SDG SA said its normalized net income for the third quarter came to 26 euro cents per share, compared with the S&P Capital IQ consensus estimate of 36 cents per share.

EPS climbed 7.9% year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €264.3 million, an increase of 7.9% from €244.9 million in the year-earlier period.

The normalized profit margin increased to 4.1% from 4.0% in the year-earlier period.

Total revenue grew year over year to €6.36 billion from €6.07 billion, and total operating expenses grew from the prior-year period to €5.50 billion from €5.30 billion.

Reported net income declined 10.7% on an annual basis to €274.0 million, or 27 cents per share, from €307.0 million, or 31 cents per share.