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China Lodging Q3 profit climbs 37.9% YOY

Huazhu Group Ltd. said its third-quarter normalized net income came to 2.83 yuan per share, compared with the S&P Capital IQ consensus estimate of 2.82 yuan per share.

EPS increased 36.6% year over year from 2.07 yuan.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 181.4 million yuan, an increase of 37.9% from 131.5 million yuan in the year-earlier period.

The normalized profit margin rose to 11.3% from 9.5% in the year-earlier period.

Total revenue rose 15.3% on an annual basis to 1.60 billion yuan from 1.39 billion yuan, and total operating expenses increased 11.2% year over year to 1.32 billion yuan from 1.19 billion yuan.

Reported net income grew 48.9% year over year to 222.8 million yuan, or 3.48 yuan per share, from 149.6 million yuan, or 2.36 yuan per share.

As of Nov. 10, US$1 was equivalent to 6.36 yuan.