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PTT Exploration & Production profit misses consensus by 30.0% in Q1

PTT Exploration & Production PCL said its normalized net income for the first quarter amounted to 5 cents per share, compared with the S&P Capital IQ consensus estimate of 8 cents per share.

EPS increased 83.6% year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $213.1 million, an increase of 83.6% from $116.1 million in the prior-year period.

The normalized profit margin rose to 20.2% from 10.9% in the year-earlier period.

Total revenue came to $1.05 billion, compared with $1.06 billion in the year-earlier period, and total operating expenses fell 18.0% year over year to $690.6 million from $842.5 million.

Reported net income grew 175.1% year over year to $339.8 million, or 9 cents per share, from $123.6 million, or 3 cents per share.