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Austevoll Seafood profit misses consensus by 73.8% in Q3

Austevoll Seafood ASA said its third-quarter normalized net income came to 44 Norwegian øre per share, compared with the S&P Capital IQ consensus estimate of 1.69 kroner per share.

EPS fell 20.4% year over year from 56 øre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 89.5 million kroner, a decrease of 20.1% from 112.0 million kroner in the year-earlier period.

The normalized profit margin fell to 1.9% from 3.0% in the year-earlier period.

Total revenue grew 21.6% on an annual basis to 4.61 billion kroner from 3.79 billion kroner, and total operating expenses climbed 21.7% on an annual basis to 4.21 billion kroner from 3.46 billion kroner.

Reported net income fell 5.4% on an annual basis to 166.0 million kroner, or 82 øre per share, from 175.4 million kroner, or 87 øre per share.

As of Nov. 10, US$1 was equivalent to 8.38 Norwegian kroner.