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Hyundai Mobis profit misses consensus by 16.7% in Q2

Hyundai Mobis Co. Ltd. said its second-quarter normalized net income was 7,455.69 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 8,947.01 won per share.

EPS declined 13.0% year over year from 8,565.01 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 712.30 billion won, a decline of 13.0% from 818.30 billion won in the prior-year period.

The normalized profit margin declined to 8.1% from 9.4% in the year-earlier period.

Total revenue rose year over year to 8.802 trillion won from 8.677 trillion won, and total operating expenses climbed on an annual basis to 8.107 trillion won from 7.916 trillion won.

Reported net income decreased 14.3% from the prior-year period to 873.51 billion won, or 9,143.14 won per share, from 1.019 trillion won, or 10,667.04 won per share.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.