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Suominen profit misses consensus by 29.2% in Q1

Suominen Oyj said its normalized net income for the first quarter was 7 euro cents per share, compared with the S&P Capital IQ consensus estimate of 10 cents per share.

EPS climbed 33.2% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €3.5 million, an increase of 15.3% from €3.1 million in the prior-year period.

The normalized profit margin rose to 3.2% from 3.1% in the year-earlier period.

Total revenue increased 13.8% year over year to €111.9 million from €98.4 million, and total operating expenses climbed 13.8% year over year to €104.6 million from €92.0 million.

Reported net income grew 34.8% from the prior-year period to €3.5 million, or 7 cents per share, from €2.6 million, or 4 cents per share.