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MHP Q4 loss narrows YOY

MHP SE said its normalized net income for the fourth quarter was a loss of 42 cents per share, compared with a loss of 85 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $46.2 million, compared with a loss of $89.7 million in the year-earlier period.

Total revenue decreased 17.4% year over year to $285.3 million from $345.3 million, and total operating expenses declined 16.5% on an annual basis to $207.2 million from $248.2 million.

Reported net income totaled a loss of $87.5 million, or a loss of 80 cents per share, compared to a loss of $111.2 million, or a loss of $1.06 per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of $1.16 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.52.

EPS was a loss of $2.96 in the prior year.

Normalized net income was a loss of $122.1 million, compared with a loss of $313.0 million in the prior year.

Full-year total revenue declined 14.2% year over year to $1.18 billion from $1.38 billion, and total operating expenses decreased 14.0% year over year to $844.1 million from $981.9 million.

The company said reported net income came to a loss of $133.4 million, or a loss of $1.26 per share, in the full year, compared with a loss of $420.0 million, or a loss of $3.98 per share, the prior year.