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China Railway Group profit misses consensus by 27.7% in Q3

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China Railway Group profit misses consensus by 27.7% in Q3

China Railway Group Ltd. said its normalized net income for the third quarter was 13 fen per share, compared with the S&P Capital IQ consensus estimate of 18 fen per share.

EPS decreased 15.2% year over year from 15 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.05 billion yuan, a decrease of 12.7% from 3.49 billion yuan in the year-earlier period.

The normalized profit margin fell to 1.8% from 2.0% in the year-earlier period.

Total revenue came to 171.98 billion yuan, compared with 170.40 billion yuan in the year-earlier period, and total operating expenses increased on an annual basis to 165.76 billion yuan from 163.79 billion yuan.

Reported net income decreased 12.0% year over year to 3.33 billion yuan, or 14 fen per share, from 3.78 billion yuan, or 17 fen per share.

As of Oct. 27, US$1 was equivalent to 6.65 yuan.