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Wilmar International profit misses consensus by 27.5% in Q3

Wilmar International Ltd. said its third-quarter normalized net income amounted to 4 cents per share, compared with the S&P Capital IQ consensus estimate of 6 cents per share.

EPS decreased 15.2% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $277.3 million, a decrease of 15.6% from $328.5 million in the prior-year period.

The normalized profit margin fell to 2.5% from 2.9% in the year-earlier period.

Total revenue fell 7.6% on an annual basis to $10.65 billion from $11.52 billion, and total operating expenses decreased 7.5% on an annual basis to $10.18 billion from $11.01 billion.

Reported net income declined 35.1% year over year to $274.0 million, or 4 cents per share, from $422.3 million, or 7 cents per share.