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Wilmar International profit misses consensus by 31.6% in Q3

Wilmar International Ltd. said its third-quarter normalized net income came to 4 cents per share, compared with the S&P Capital IQ consensus estimate of 6 cents per share.

EPS fell 11.8% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $280.6 million, a decline of 11.7% from $317.8 million in the year-earlier period.

The normalized profit margin fell to 2.5% from 2.9% in the year-earlier period.

Total revenue totaled $11.13 billion, compared with $11.08 billion in the prior-year period, and total operating expenses rose from the prior-year period to $10.65 billion from $10.50 billion.

Reported net income decreased 6.3% year over year to $366.9 million, or 6 cents per share, from $391.6 million, or 6 cents per share.