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CJ Cheiljedang profit misses consensus by 75.5% in Q4

CJ Cheiljedang Corp. said its fourth-quarter normalized net income came to 2,233.88 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 9,116.72 won per share.

EPS rose year over year from 882.01 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 19.70 billion won, a decrease of 5.5% from 20.85 billion won in the prior-year period.

The normalized profit margin dropped to 0.6% from 0.7% in the year-earlier period.

Total revenue grew 6.3% year over year to 3.273 trillion won from 3.080 trillion won, and total operating expenses rose 8.7% year over year to 3.161 trillion won from 2.908 trillion won.

Reported net income totaled a loss of 3.46 billion won, or a loss of 393.96 won per share, compared to income of 6.02 billion won, or 254.46 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled 13,920.86 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 18,209.35 won.

EPS rose 62.9% from 8,544.07 won in the prior year.

Normalized net income was 178.25 billion won, a gain of 47.9% from 120.50 billion won in the prior year.

Full-year total revenue grew 10.4% from the prior-year period to 12.924 trillion won from 11.702 trillion won, and total operating expenses increased 9.5% on an annual basis to 12.173 trillion won from 11.122 trillion won.

The company said reported net income grew 86.4% year over year to 171.44 billion won, or 13,389.00 won per share, in the full year, from 91.96 billion won, or 6,520.00 won per share.

As of March 10, US$1 was equivalent to 1,203.54 South Korean won.