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LG Corp. profit misses consensus by 50.4% in Q4

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LG Corp. profit misses consensus by 50.4% in Q4

LG Corp. said its fourth-quarter normalized net income came to 702.58 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 1,417.40 won per share.

EPS fell 16.3% year over year from 839.62 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 121.17 billion won, a decline of 17.9% from 147.58 billion won in the prior-year period.

The normalized profit margin dropped to 4.3% from 5.0% in the year-earlier period.

Total revenue decreased 5.3% on an annual basis to 2.808 trillion won from 2.966 trillion won, and total operating expenses decreased on an annual basis to 2.586 trillion won from 2.696 trillion won.

Reported net income decreased 11.7% from the prior-year period to 156.27 billion won, or 906.11 won per share, from 176.95 billion won, or 1,006.73 won per share.

For the year, the company's normalized net income totaled 3,908.00 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 5,975.38 won.

EPS rose from 3,556.13 won in the prior year.

Normalized net income was 673.99 billion won, a rise from 625.17 billion won in the prior year.

Full-year total revenue grew on an annual basis to 9.968 trillion won from 9.865 trillion won, and total operating expenses came to 8.831 trillion won, compared with 8.821 trillion won in the year-earlier period.

The company said reported net income rose year over year to 926.26 billion won, or 5,370.75 won per share, in the full year, from 838.95 billion won, or 4,772.16 won per share.

As of March 17, US$1 was equivalent to 1,156.30 South Korean won.