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Siam Cement profit misses consensus by 50.0% in Q2

The Siam Cement Public Company Ltd said its second-quarter normalized net income was 6.41 baht per share, compared with the S&P Capital IQ consensus estimate of 12.81 baht per share.

EPS declined 23.8% year over year from 8.40 baht.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.69 billion baht, a decline of 23.8% from 10.08 billion baht in the prior-year period.

The normalized profit margin fell to 7.1% from 9.3% in the year-earlier period.

Total revenue came to 108.83 billion baht, compared with 108.87 billion baht in the year-earlier period, and total operating expenses rose 6.3% from the prior-year period to 94.48 billion baht from 88.88 billion baht.

Reported net income declined 17.3% from the prior-year period to 13.25 billion baht, or 11.04 baht per share, from 16.03 billion baht, or 13.36 baht per share.

As of Aug. 9, US$1 was equivalent to 33.25 baht.