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Siam Cement profit misses consensus by 32.3% in Q1

The Siam Cement Public Company Ltd said its normalized net income for the first quarter came to 5.56 baht per share, compared with the S&P Capital IQ consensus estimate of 8.21 baht per share.

EPS increased 12.4% year over year from 4.95 baht.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.67 billion baht, an increase of 12.4% from 5.93 billion baht in the year-earlier period.

The normalized profit margin increased to 7.2% from 4.9% in the year-earlier period.

Total revenue declined 10.3% year over year to 109.28 billion baht from 121.76 billion baht, and total operating expenses fell 11.8% year over year to 97.79 billion baht from 110.89 billion baht.

Reported net income grew 32.1% on an annual basis to 11.07 billion baht, or 9.23 baht per share, from 8.38 billion baht, or 6.98 baht per share.

As of May 6, US$1 was equivalent to 33.23 baht.