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Hyundai Motor profit misses consensus by 17.7% in Q2

Hyundai Motor Co. said its second-quarter normalized net income was 3,968.13 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 4,820.42 won per share.

EPS declined 13.5% year over year from 4,589.86 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 821.62 billion won, a decrease of 33.4% from 1.234 trillion won in the prior-year period.

The normalized profit margin dropped to 3.6% from 5.0% in the year-earlier period.

Total revenue decreased year over year to 24.308 trillion won from 24.677 trillion won, and total operating expenses came to 22.964 trillion won, compared with 22.915 trillion won in the year-earlier period.

Reported net income fell 62.1% on an annual basis to 628.63 billion won, or 3,036.08 won per share, from 1.658 trillion won, or 6,169.16 won per share.

As of Aug. 14, US$1 was equivalent to 1,139.03 South Korean won.