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CJ Cheiljedang profit misses consensus by 55.5% in Q3

CJ Cheiljedang Corp. said its normalized net income for the third quarter was 2,470.47 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 5,555.22 won per share.

EPS decreased 24.0% year over year from 3,250.76 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 35.02 billion won, a gain of 97.3% from 17.75 billion won in the prior-year period.

The normalized profit margin rose to 1.0% from 0.6% in the year-earlier period.

Total revenue increased 13.2% year over year to 3.366 trillion won from 2.973 trillion won, and total operating expenses climbed 12.1% on an annual basis to 3.144 trillion won from 2.806 trillion won.

Reported net income rose year over year to 30.79 billion won, or 2,172.00 won per share, from 8.85 billion won, or 1,620.00 won per share.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.