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China Southern Airlines profit misses consensus by 17.8% in Q3

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Global M&A by the Numbers Q4 2023

China Southern Airlines profit misses consensus by 17.8% in Q3

China Southern Airlines Co. Ltd. said its normalized net income for the third quarter amounted to 31 fen per share, compared with the S&P Capital IQ consensus estimate of 38 fen per share.

EPS increased 23.4% year over year from 25 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.11 billion yuan, a gain of 26.3% from 2.46 billion yuan in the year-earlier period.

The normalized profit margin rose to 8.7% from 7.6% in the year-earlier period.

Total revenue increased 9.9% on an annual basis to 35.80 billion yuan from 32.57 billion yuan, and total operating expenses climbed 8.2% year over year to 30.32 billion yuan from 28.03 billion yuan.

Reported net income grew 29.4% year over year to 4.28 billion yuan, or 43 fen per share, from 3.31 billion yuan, or 34 fen per share.

As of Oct. 30, US$1 was equivalent to 6.65 yuan.