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BYD Co. Ltd. profit misses consensus by 46.2% in Q3

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BYD Co. Ltd. profit misses consensus by 46.2% in Q3

BYD Co. Ltd. said its normalized net income for the third quarter was 27 fen per share, compared with the S&P Capital IQ consensus estimate of 51 fen per share.

EPS decreased 40.1% year over year from 46 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 792.8 million yuan, a decrease of 34.7% from 1.21 billion yuan in the year-earlier period.

The normalized profit margin declined to 2.7% from 4.4% in the year-earlier period.

Total revenue grew on an annual basis to 28.90 billion yuan from 27.85 billion yuan, and total operating expenses increased from the prior-year period to 26.66 billion yuan from 25.66 billion yuan.

Reported net income fell 23.9% on an annual basis to 1.07 billion yuan, or 37 fen per share, from 1.40 billion yuan, or 53 fen per share.

As of Oct. 27, US$1 was equivalent to 6.65 yuan.