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Ayala Corp. profit misses consensus by 35.2% in Q2

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Ayala Corp. profit misses consensus by 35.2% in Q2

Ayala Corp. said its normalized net income for the second quarter was 5.14 Philippine pesos per share, compared with the S&P Capital IQ consensus estimate of 7.93 pesos per share.

EPS rose 21.9% year over year from 4.21 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.23 billion pesos, a gain of 26.9% from 2.55 billion pesos in the year-earlier period.

The normalized profit margin increased to 6.5% from 5.4% in the year-earlier period.

Total revenue climbed 5.9% on an annual basis to 49.85 billion pesos from 47.07 billion pesos, and total operating expenses grew year over year to 35.18 billion pesos from 34.13 billion pesos.

Reported net income grew 20.0% from the prior-year period to 5.03 billion pesos, or 8.00 pesos per share, from 4.19 billion pesos, or 6.94 pesos per share.

As of Aug. 14, US$1 was equivalent to 46.16 Philippine pesos.