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Maersk profit misses consensus by 76.8% in Q4

A.P. Møller - Mærsk A/S said its normalized net income for the fourth quarter was $2.93 per share, compared with the S&P Capital IQ consensus estimate of $12.63 per share.

EPS increased 7.8% year over year from $2.72.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $60.8 million, an increase of 5.2% from $57.8 million in the year-earlier period.

The normalized profit margin climbed to 0.7% from 0.6% in the year-earlier period.

Total revenue fell year over year to $8.89 billion from $9.13 billion, and total operating expenses decreased 5.1% on an annual basis to $8.40 billion from $8.85 billion.

Reported net income totaled a loss of $2.68 billion, or a loss of $129.19 per share, compared with a loss of $2.58 billion, or a loss of $121.21 per share, in the year-earlier period.

For the year, the company's normalized net income totaled $49.00 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $43.54.

EPS declined from $113.77 in the prior year.

Normalized net income was $1.02 billion, a decline from $2.44 billion in the prior year.

Full-year total revenue fell year over year to $35.46 billion from $40.31 billion, and total operating expenses declined on an annual basis to $33.20 billion from $36.05 billion.

The company said reported net income came to a loss of $1.93 billion, or a loss of $93.33 per share, in the full year, compared with income of $793.3 million, or $36.93 per share, the prior year.