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E-Mart profit misses consensus by 75.5% in Q4

E-Mart Inc. said its normalized net income for the fourth quarter was 740.85 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 3,018.73 won per share.

EPS fell 59.7% year over year from 1,838.74 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 20.64 billion won, a decline of 59.7% from 51.25 billion won in the prior-year period.

The normalized profit margin fell to 0.6% from 1.6% in the year-earlier period.

Total revenue rose on an annual basis to 3.325 trillion won from 3.239 trillion won, and total operating expenses rose on an annual basis to 3.241 trillion won from 3.122 trillion won.

Reported net income came to a loss of 44.91 billion won, or a loss of 1,611.65 won per share, compared to a loss of 3.60 billion won, or a loss of 129.27 won per share, in the prior-year period.

For the year, the company's normalized net income totaled 9,184.03 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 19,076.81 won.

EPS declined 16.8% from 11,042.05 won in the prior year.

Normalized net income was 255.91 billion won, a decrease of 16.8% from 307.69 billion won in the prior year.

Full-year total revenue increased from the prior-year period to 13.640 trillion won from 13.154 trillion won, and total operating expenses grew year over year to 13.137 trillion won from 12.572 trillion won.

The company said reported net income grew 56.8% year over year to 454.71 billion won, or 16,318.77 won per share, in the full year, from 290.02 billion won, or 10,408.00 won per share.

As of March 3, US$1 was equivalent to 1,211.12 South Korean won.