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Jardine Cycle & Carriage profit misses consensus by 54.2% in Q1

Jardine Cycle & Carriage Ltd. said its first-quarter normalized net income was 24 cents per share, compared with the S&P Capital IQ consensus estimate of 53 cents per share.

EPS climbed 31.8% year over year from 18 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $96.4 million, an increase of 32.3% from $72.8 million in the prior-year period.

The normalized profit margin rose to 2.3% from 2.0% in the year-earlier period.

Total revenue rose 16.0% year over year to $4.23 billion from $3.65 billion, and total operating expenses climbed 13.3% from the prior-year period to $3.81 billion from $3.36 billion.

Reported net income increased 49.6% from the prior-year period to $210.4 million, or 53 cents per share, from $140.6 million, or 36 cents per share.