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Scandi Standard profit misses consensus by 18.3% in Q3

Scandi Standard AB said its third-quarter normalized net income was 61 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 75 öre per share.

EPS rose 39.5% year over year from 44 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 36.9 million kronor, an increase of 38.2% from 26.7 million kronor in the year-earlier period.

The normalized profit margin climbed to 2.6% from 2.0% in the year-earlier period.

Total revenue grew on an annual basis to 1.40 billion kronor from 1.36 billion kronor, and total operating expenses rose year over year to 1.32 billion kronor from 1.30 billion kronor.

Reported net income grew 51.1% from the prior-year period to 48.5 million kronor, or 81 öre per share, from 32.1 million kronor, or 53 öre per share.

As of Nov. 26, US$1 was equivalent to 8.74 Swedish kronor.