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Andeavor profit misses consensus by 48.8% in Q2

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Andeavor profit misses consensus by 48.8% in Q2

Andeavor said its normalized net income for the second quarter was 81 cents per share, compared with the S&P Capital IQ consensus estimate of $1.57 per share.

EPS fell 75.6% year over year from $3.30.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $106.1 million, a decline of 73.4% from $398.4 million in the year-earlier period.

The normalized profit margin declined to 1.4% from 6.5% in the year-earlier period.

Total revenue grew 25.4% year over year to $7.70 billion from $6.14 billion, and total operating expenses climbed 36.1% on an annual basis to $7.38 billion from $5.42 billion.

Reported net income declined 90.2% year over year to $40.8 million, or 31 cents per share, from $418.5 million, or $3.47 per share.