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Andeavor Q1 profit falls YOY

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Andeavor Q1 profit falls YOY

Andeavor said its first-quarter normalized net income amounted to 26 cents per share, compared with the S&P Capital IQ consensus estimate of 31 cents per share.

EPS decreased 76.2% year over year from $1.11.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $31.1 million, a decline of 76.8% from $134.4 million in the prior-year period.

The normalized profit margin declined to 0.5% from 2.7% in the year-earlier period.

Total revenue climbed 31.2% on an annual basis to $6.50 billion from $4.96 billion, and total operating expenses grew 36.3% on an annual basis to $6.31 billion from $4.63 billion.

Reported net income declined 14.7% on an annual basis to $49.6 million, or 42 cents per share, from $58.2 million, or 48 cents per share.