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LG Chem profit misses consensus by 41.3% in Q3

LG Chem Ltd. said its third-quarter normalized net income amounted to 3,613.50 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 6,159.86 won per share.

EPS fell 9.0% year over year from 3,971.99 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 238.17 billion won, a decline of 18.5% from 292.16 billion won in the prior-year period.

The normalized profit margin fell to 4.7% from 5.6% in the year-earlier period.

Total revenue declined on an annual basis to 5.054 trillion won from 5.178 trillion won, and total operating expenses came to 4.594 trillion won, compared with 4.631 trillion won in the prior-year period.

Reported net income decreased 24.4% on an annual basis to 264.87 billion won, or 4,018.58 won per share, from 350.41 billion won, or 4,764.00 won per share.

As of Oct. 31, US$1 was equivalent to 1,145.62 South Korean won.