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ZTO Express Q1 profit climbs 48.6% YOY

ZTO Express (Cayman) Inc. said its first-quarter normalized net income amounted to 58 fen per share, compared with the S&P Capital IQ consensus estimate of 67 fen per share.

EPS increased 26.5% year over year from 46 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 419.1 million yuan, a gain of 48.6% from 282.0 million yuan in the year-earlier period.

The normalized profit margin rose to 16.0% from 14.4% in the year-earlier period.

Total revenue climbed 33.5% year over year to 2.61 billion yuan from 1.96 billion yuan, and total operating expenses rose 30.2% on an annual basis to 1.96 billion yuan from 1.50 billion yuan.

Reported net income rose 75.0% from the prior-year period to 504.9 million yuan, or 70 fen per share, from 288.5 million yuan, or 47 fen per share.

As of May 17, US$1 was equivalent to 6.89 yuan.