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LG Chem profit misses consensus by 27.2% in Q2

LG Chem Ltd. said its second-quarter normalized net income came to 4,832.42 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 6,637.28 won per share.

EPS rose year over year from 4,767.05 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 318.51 billion won, a decrease of 9.2% from 350.62 billion won in the year-earlier period.

The normalized profit margin fell to 6.1% from 6.9% in the year-earlier period.

Total revenue rose on an annual basis to 5.219 trillion won from 5.073 trillion won, and total operating expenses grew on an annual basis to 4.607 trillion won from 4.510 trillion won.

Reported net income decreased from the prior-year period to 337.75 billion won, or 5,124.33 won per share, from 349.44 billion won, or 4,751.05 won per share.

As of Aug. 16, US$1 was equivalent to 1,094.67 South Korean won.