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Stora Enso Q2 profit climbs 273.5% YOY

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Stora Enso Q2 profit climbs 273.5% YOY

Stora Enso Oyj said its second-quarter normalized net income was 15 euro cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

EPS rose 273.3% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €121.4 million, an increase of 273.5% from €32.5 million in the year-earlier period.

The normalized profit margin climbed to 4.4% from 1.3% in the year-earlier period.

Total revenue came to €2.56 billion, compared with €2.58 billion in the year-earlier period, and total operating expenses decreased 5.3% from the prior-year period to €2.37 billion from €2.50 billion.

Reported net income grew 13,326.6% from the prior-year period to €134.3 million, or 16 cents per share, from €1.0 million, or 0 cents per share.