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ZTO Express profit misses consensus by 18.0% in Q3

ZTO Express (Cayman) Inc. said its third-quarter normalized net income amounted to 83 fen per share, compared with the S&P Capital IQ consensus estimate of 1.02 yuan per share.

EPS climbed 12.3% year over year from 74 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 596.6 million yuan, a gain of 30.1% from 458.4 million yuan in the year-earlier period.

The normalized profit margin fell to 19.0% from 19.5% in the year-earlier period.

Total revenue grew 33.6% year over year to 3.14 billion yuan from 2.35 billion yuan, and total operating expenses rose 36.0% on an annual basis to 2.20 billion yuan from 1.62 billion yuan.

Reported net income grew 48.5% on an annual basis to 716.5 million yuan, or 1 yuan per share, from 482.3 million yuan, or 78 fen per share.

As of Nov. 20, US$1 was equivalent to 6.64 yuan.