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Schindler Holding profit misses consensus by 29.1% in Q2

Schindler Holding AG said its second-quarter normalized net income came to CHF1.28 per share, compared with the S&P Capital IQ consensus estimate of CHF1.80 per share.

EPS increased year over year from CHF1.26.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF127.4 million, a decrease from CHF132.8 million in the year-earlier period.

The normalized profit margin dropped to 5.5% from 5.6% in the year-earlier period.

Total revenue grew on an annual basis to CHF2.47 billion from CHF2.35 billion, and total operating expenses rose from the prior-year period to CHF2.20 billion from CHF2.10 billion.

Reported net income came to CHF163.0 million, or CHF1.63 per share, compared with CHF164.0 million, or CHF1.56 per share, in the year-earlier period.