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Norway Royal Salmon profit beats consensus by 15.4% in Q3

Norway Royal Salmon AS said its third-quarter normalized net income was 3.30 Norwegian kroner per share, compared with the S&P Capital IQ consensus estimate of 2.86 kroner per share.

EPS increased year over year from 1.27 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 143.5 million kroner, an increase from 55.3 million kroner in the year-earlier period.

The normalized profit margin climbed to 13.0% from 7.2% in the year-earlier period.

Total revenue grew 43.7% on an annual basis to 1.11 billion kroner from 770.5 million kroner, and total operating expenses rose 27.3% year over year to 881.9 million kroner from 693.0 million kroner.

Reported net income grew on an annual basis to 223.4 million kroner, or 5.14 kroner per share, from 90.7 million kroner, or 2.08 kroner per share.

As of Nov. 9, US$1 was equivalent to 8.31 Norwegian kroner.