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Hyundai Mobis profit misses consensus by 35.4% in Q2

Hyundai Mobis Co. Ltd. said its normalized net income for the second quarter came to 4,539.81 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 7,032.21 won per share.

EPS declined 40.7% year over year from 7,659.72 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 429.92 billion won, a decline of 40.7% from 725.10 billion won in the year-earlier period.

The normalized profit margin declined to 5.2% from 7.4% in the year-earlier period.

Total revenue fell 16.0% on an annual basis to 8.282 trillion won from 9.854 trillion won, and total operating expenses declined 14.1% on an annual basis to 7.790 trillion won from 9.070 trillion won.

Reported net income fell 43.1% from the prior-year period to 481.22 billion won, or 5,081.47 won per share, from 846.02 billion won, or 8,937.12 won per share.

As of Aug. 14, US$1 was equivalent to 1,139.03 South Korean won.