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SK Holdings profit misses consensus by 52.9% in Q1

SK Holdings Co. Ltd. said its normalized net income for the first quarter amounted to 3,930.28 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 8,340.55 won per share.

EPS climbed 10.4% year over year from 3,559.58 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 219.41 billion won, a gain of 40.1% from 156.63 billion won in the prior-year period.

The normalized profit margin dropped to 1.1% from 24.4% in the year-earlier period.

Total revenue rose 3,123.7% on an annual basis to 20.674 trillion won from 641.31 billion won, and total operating expenses grew 3,296.4% on an annual basis to 19.161 trillion won from 564.16 billion won.

Reported net income grew 100.7% from the prior-year period to 386.56 billion won, or 6,924.65 won per share, from 192.59 billion won, or 4,376.97 won per share.

As of May 17, US$1 was equivalent to 1,173.62 South Korean won.