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SalMar Q3 profit falls 26.6% YOY

SalMar ASA said its third-quarter normalized net income came to 2.43 Norwegian kroner per share, compared with the S&P Capital IQ consensus estimate of 2.38 kroner per share.

EPS decreased 26.6% year over year from 3.30 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 275.0 million kroner, a decrease of 26.6% from 374.4 million kroner in the prior-year period.

The normalized profit margin declined to 14.7% from 20.7% in the year-earlier period.

Total revenue increased on an annual basis to 1.88 billion kroner from 1.81 billion kroner, and total operating expenses grew from the prior-year period to 1.26 billion kroner from 1.22 billion kroner.

Reported net income fell 27.3% year over year to 327.1 million kroner, or 2.89 kroner per share, from 449.8 million kroner, or 3.97 kroner per share.

As of Nov. 12, US$1 was equivalent to 8.67 Norwegian kroner.