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Leroy Seafood profit misses consensus by 32.3% in Q2

Lerøy Seafood Group ASA said its normalized net income for the second quarter was 64 Norwegian øre per share, compared with the S&P Capital IQ consensus estimate of 95 øre per share.

EPS rose year over year from 16 øre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 365.9 million kroner, a gain from 85.0 million kroner in the prior-year period.

The normalized profit margin increased to 8.6% from 2.6% in the year-earlier period.

Total revenue climbed 28.2% on an annual basis to 4.26 billion kroner from 3.32 billion kroner, and total operating expenses climbed 14.1% from the prior-year period to 3.65 billion kroner from 3.20 billion kroner.

Reported net income rose year over year to 447.4 million kroner, or 78 øre per share, from 84.7 million kroner, or 16 øre per share.

As of Aug. 18, US$1 was equivalent to 8.16 Norwegian kroner.