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China Eastern Airlines Q3 profit falls YOY

China Eastern Airlines Corp. Ltd. said its third-quarter normalized net income came to 10 fen per share, compared with the S&P Capital IQ consensus estimate of 10 fen per share.

EPS decreased 9.1% year over year from 11 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.24 billion yuan, a decline of 8.0% from 1.34 billion yuan in the prior-year period.

The normalized profit margin dropped to 4.5% from 5.1% in the year-earlier period.

Total revenue increased 5.7% year over year to 27.65 billion yuan from 26.17 billion yuan, and total operating expenses declined 7.7% year over year to 22.55 billion yuan from 24.44 billion yuan.

Reported net income fell 13.4% year over year to 1.77 billion yuan, or 14 fen per share, from 2.04 billion yuan, or 16 fen per share.

As of Oct. 27, US$1 was equivalent to 6.35 yuan.