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ZTO Express Q2 profit climbs 58.1% YOY

ZTO Express (Cayman) Inc. said its second-quarter normalized net income came to 82 fen per share, compared with the S&P Capital IQ consensus estimate of 94 fen per share.

EPS rose 34.8% year over year from 61 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 593.8 million yuan, an increase of 58.1% from 375.6 million yuan in the prior-year period.

The normalized profit margin climbed to 20.0% from 16.4% in the year-earlier period.

Total revenue increased 29.9% year over year to 2.97 billion yuan from 2.29 billion yuan, and total operating expenses increased 21.7% on an annual basis to 2.05 billion yuan from 1.68 billion yuan.

Reported net income grew 95.4% on an annual basis to 719.9 million yuan, or 100 fen per share, from 368.4 million yuan, or 60 fen per share.

As of Aug. 22, US$1 was equivalent to 6.66 yuan.