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Hyundai Mobis profit misses consensus by 16.9% in Q2

Hyundai Mobis Co. Ltd. said its second-quarter normalized net income came to 7,659.57 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 9,216.85 won per share.

EPS rose year over year from 7,455.42 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 725.10 billion won, a gain from 712.30 billion won in the prior-year period.

The normalized profit margin dropped to 7.4% from 8.1% in the year-earlier period.

Total revenue rose 11.9% on an annual basis to 9.854 trillion won from 8.802 trillion won, and total operating expenses rose 11.9% from the prior-year period to 9.070 trillion won from 8.107 trillion won.

Reported net income declined from the prior-year period to 845.99 billion won, or 8,936.58 won per share, from 873.55 billion won, or 9,143.19 won per share.

As of Aug. 16, US$1 was equivalent to 1,094.67 South Korean won.