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Hyundai Motor Q1 profit falls YOY

Hyundai Motor Co. said its normalized net income for the first quarter amounted to 6,634.01 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 6,767.12 won per share.

EPS declined 12.3% year over year from 7,566.23 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.375 trillion won, a decrease of 13.1% from 1.583 trillion won in the year-earlier period.

The normalized profit margin declined to 6.6% from 7.3% in the year-earlier period.

Total revenue fell on an annual basis to 20.943 trillion won from 21.649 trillion won, and total operating expenses declined from the prior-year period to 19.355 trillion won from 19.711 trillion won.

Reported net income decreased year over year to 1.470 trillion won, or 7,092.00 won per share, from 1.486 trillion won, or 7,098.79 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.