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Austevoll Seafood profit misses consensus by 43.0% in Q3

Austevoll Seafood ASA said its normalized net income for the third quarter was 56 Norwegian øre per share, compared with the S&P Capital IQ consensus estimate of 97 øre per share.

EPS climbed year over year from 11 øre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 112.0 million kroner, a gain from 23.1 million kroner in the year-earlier period.

The normalized profit margin increased to 3.0% from 0.7% in the year-earlier period.

Total revenue climbed 11.8% on an annual basis to 3.79 billion kroner from 3.39 billion kroner, and total operating expenses grew from the prior-year period to 3.46 billion kroner from 3.36 billion kroner.

Reported net income grew on an annual basis to 175.4 million kroner, or 87 øre per share, from 48.3 million kroner, or 24 øre per share.

As of Nov. 11, US$1 was equivalent to 8.61 Norwegian kroner.