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SalMar profit misses consensus by 31.7% in Q2

SalMar ASA said its second-quarter normalized net income amounted to 3.01 Norwegian kroner per share, compared with the S&P Capital IQ consensus estimate of 4.40 kroner per share.

EPS increased year over year from 1.39 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 338.5 million kroner, a gain from 157.8 million kroner in the prior-year period.

The normalized profit margin climbed to 14.8% from 8.8% in the year-earlier period.

Total revenue rose 27.2% year over year to 2.29 billion kroner from 1.80 billion kroner, and total operating expenses increased 16.7% year over year to 1.78 billion kroner from 1.53 billion kroner.

Reported net income increased from the prior-year period to 409.5 million kroner, or 3.64 kroner per share, from 179.0 million kroner, or 1.58 kroner per share.

As of Aug. 25, US$1 was equivalent to 8.21 Norwegian kroner.