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Maersk Q3 profit falls YOY

A.P. Møller - Mærsk A/S said its normalized net income for the third quarter was $27.48 per share, compared with the S&P Capital IQ consensus estimate of $31.56 per share.

EPS fell 53.2% year over year from $58.77.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $576.4 million, a decrease of 55.1% from $1.28 billion in the prior-year period.

The normalized profit margin dropped to 5.7% from 10.6% in the year-earlier period.

Total revenue declined 16.9% on an annual basis to $10.11 billion from $12.17 billion, and total operating expenses declined 9.2% from the prior-year period to $9.10 billion from $10.02 billion.

Reported net income fell 48.5% year over year to $755.0 million, or $36.00 per share, from $1.47 billion, or $67.00 per share.