Formosa Petrochemical Corp. said its normalized net income for the second quarter came to NT$1.90 per share, compared with the S&P Capital IQ consensus estimate of NT$1.86 per share.
EPS climbed 411.4% year over year from 37 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$18.13 billion, a gain of 411.4% from NT$3.55 billion in the prior-year period.
The normalized profit margin increased to 9.9% from 1.6% in the year-earlier period.
Total revenue decreased 16.2% year over year to NT$183.98 billion from NT$219.56 billion, and total operating expenses declined 27.1% from the prior-year period to NT$155.72 billion from NT$213.56 billion.
Reported net income rose 281.2% on an annual basis to NT$24.69 billion, or NT$2.59 per share, from NT$6.48 billion, or 68 cents per share.
As of Aug. 7, US$1 was equivalent to NT$31.73.
