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Taiwan FamilyMart profit misses consensus by 20.2% in Q1

Taiwan FamilyMart Co. Ltd. said its first-quarter normalized net income was 62 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 78 cents per share.

EPS fell 10.4% year over year from 70 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$139.1 million, a decline of 10.4% from NT$155.3 million in the year-earlier period.

The normalized profit margin fell to 1.0% from 1.2% in the year-earlier period.

Total revenue grew year over year to NT$13.37 billion from NT$13.06 billion, and total operating expenses grew from the prior-year period to NT$13.18 billion from NT$12.86 billion.

Reported net income declined 15.2% from the prior-year period to NT$174.2 million, or 78 cents per share, from NT$205.5 million, or 92 cents per share.

As of May 14, US$1 was equivalent to NT$30.54.