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Korea Electric Power profit misses consensus by 35.8% in Q3

Korea Electric Power Corp. said its normalized net income for the third quarter came to 2,070.12 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 3,222.88 won per share.

EPS declined 47.8% year over year from 3,965.02 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.329 trillion won, a decrease of 47.8% from 2.546 trillion won in the prior-year period.

The normalized profit margin fell to 8.2% from 16.0% in the year-earlier period.

Total revenue climbed on an annual basis to 16.188 trillion won from 15.943 trillion won, and total operating expenses rose 16.5% year over year to 13.415 trillion won from 11.519 trillion won.

Reported net income fell 48.8% on an annual basis to 1.493 trillion won, or 2,326.00 won per share, from 2.913 trillion won, or 4,538.00 won per share.

As of Nov. 14, US$1 was equivalent to 1,114.97 South Korean won.