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Innogy profit misses consensus by 66.0% in Q2

innogy SE said its second-quarter normalized net income was 26 euro cents per share, compared with the S&P Capital IQ consensus estimate of 77 cents per share.

EPS decreased 26.2% year over year from 35 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €146.9 million, an increase from €143.0 million in the prior-year period.

The normalized profit margin increased to 1.6% from 1.6% in the year-earlier period.

Total revenue declined year over year to €8.98 billion from €9.18 billion, and total operating expenses came to €8.63 billion, compared with €8.59 billion in the year-earlier period.

Reported net income declined 32.5% year over year to €185.0 million, or 33 cents per share, from €274.0 million, or 68 cents per share.