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Vestas Wind Systems profit beats consensus by 73.9% in Q2

Vestas Wind Systems A/S said its second-quarter normalized net income amounted to €1.05 per share, compared with the S&P Capital IQ consensus estimate of 60 cents per share.

EPS increased 122.6% year over year from 47 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €232.5 million, a gain of 121.4% from €105.0 million in the prior-year period.

The normalized profit margin climbed to 9.1% from 6.0% in the year-earlier period.

Total revenue increased 46.2% year over year to €2.56 billion from €1.75 billion, and total operating expenses climbed 34.5% year over year to €2.16 billion from €1.60 billion.

Reported net income grew 122.4% from the prior-year period to €278.0 million, or €1.25 per share, from €125.0 million, or 56 cents per share.