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SK Holdings profit misses consensus by 51.1% in Q1

SK Holdings Co. Ltd. said its first-quarter normalized net income amounted to 1,130.98 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 2,313.00 won per share.

EPS climbed 17.5% year over year from 962.62 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 49.76 billion won, an increase of 17.1% from 42.49 billion won in the year-earlier period.

The normalized profit margin increased to 24.4% from 8.1% in the year-earlier period.

Total revenue rose 22.4% year over year to 641.31 billion won from 523.85 billion won, and total operating expenses increased 20.5% from the prior-year period to 564.16 billion won from 468.36 billion won.

Reported net income rose 79.3% from the prior-year period to 192.59 billion won, or 4,377.09 won per share, from 107.44 billion won, or 2,433.94 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.