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Andeavor Q3 profit climbs 99.0% YOY

Andeavor said its third-quarter normalized net income came to $6.41 per share, compared with the S&P Capital IQ consensus estimate of $6.09 per share.

EPS increased 108.4% year over year from $3.07.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $793.1 million, an increase of 99.0% from $398.6 million in the year-earlier period.

The normalized profit margin rose to 9.7% from 3.6% in the year-earlier period.

Total revenue decreased 30.9% year over year to $7.61 billion from $11.00 billion, and total operating expenses decreased 39.5% from the prior-year period to $6.23 billion from $10.30 billion.

Reported net income rose 91.2% on an annual basis to $758.9 million, or $6.13 per share, from $396.9 million, or $3.06 per share.