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Europris profit misses consensus by 21.0% in Q3

Europris ASA said its third-quarter normalized net income was 38 Norwegian øre per share, compared with the S&P Capital IQ consensus estimate of 48 øre per share.

EPS climbed 76.3% year over year from 22 øre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 63.8 million kroner, an increase of 98.8% from 32.1 million kroner in the year-earlier period.

The normalized profit margin increased to 5.6% from 3.0% in the year-earlier period.

Total revenue climbed 7.6% year over year to 1.13 billion kroner from 1.05 billion kroner, and total operating expenses climbed 5.5% year over year to 1.03 billion kroner from 977.1 million kroner.

Reported net income grew from the prior-year period to 74.5 million kroner, or 45 øre per share, from 17.1 million kroner, or 12 øre per share.

As of Nov. 12, US$1 was equivalent to 8.67 Norwegian kroner.