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LG Chem Q3 profit climbs 108.4% YOY

LG Chem Ltd. said its normalized net income for the third quarter was 6,477.19 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 7,575.88 won per share.

EPS climbed 100.0% year over year from 3,238.19 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 496.29 billion won, a gain of 108.4% from 238.17 billion won in the year-earlier period.

The normalized profit margin climbed to 7.8% from 4.7% in the year-earlier period.

Total revenue increased 26.6% year over year to 6.397 trillion won from 5.054 trillion won, and total operating expenses climbed 22.1% on an annual basis to 5.607 trillion won from 4.594 trillion won.

Reported net income increased 76.2% from the prior-year period to 520.95 billion won, or 6,799.00 won per share, from 295.60 billion won, or 4,019.00 won per share.

As of Nov. 14, US$1 was equivalent to 1,114.97 South Korean won.