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Novatek profit misses consensus by 37.1% in Q3

PAO NOVATEK said its normalized net income for the third quarter came to 91.51 Russian rubles per share, compared with the S&P Capital IQ consensus estimate of 145.50 rubles per share.

EPS increased 5.5% year over year from 86.75 rubles.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 27.60 billion rubles, an increase of 5.4% from 26.19 billion rubles in the prior-year period.

The normalized profit margin climbed to 21.1% from 20.7% in the year-earlier period.

Total revenue increased year over year to 130.70 billion rubles from 126.48 billion rubles, and total operating expenses climbed from the prior-year period to 94.60 billion rubles from 92.76 billion rubles.

Reported net income grew from the prior-year period to 37.74 billion rubles, or 125.14 rubles per share, from 36.49 billion rubles, or 120.90 rubles per share.

As of Oct. 26, US$1 was equivalent to 57.69 Russian rubles.