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SK Innovation profit beats consensus by 26.4% in Q3

SK Innovation Co. Ltd. said its third-quarter normalized net income amounted to 6,412.56 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 5,072.70 won per share.

EPS climbed 129.1% year over year from 2,798.81 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 597.61 billion won, a gain of 129.1% from 260.85 billion won in the year-earlier period.

The normalized profit margin increased to 5.1% from 2.7% in the year-earlier period.

Total revenue grew 21.2% year over year to 11.759 trillion won from 9.703 trillion won, and total operating expenses climbed 16.2% on an annual basis to 10.795 trillion won from 9.288 trillion won.

Reported net income increased 89.7% from the prior-year period to 682.83 billion won, or 7,327.00 won per share, from 360.03 billion won, or 3,863.00 won per share.

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