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S-Oil profit misses consensus by 79.7% in Q4

S-Oil Corp. said its normalized net income for the fourth quarter amounted to 250.01 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 1,231.99 won per share.

The per-share result swung to a profit from the prior-year loss of 2,026.63 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 25.26 billion won, compared with a loss of 239.36 billion won in the prior-year period.

The normalized profit margin increased to 0.6% from negative 3.8% in the year-earlier period.

Total revenue declined 37.0% year over year to 3.947 trillion won from 6.268 trillion won, and total operating expenses decreased 38.7% year over year to 3.990 trillion won from 6.512 trillion won.

Reported net income came to 14.38 billion won, or 142.32 won per share, compared with a loss of 272.19 billion won, or a loss of 2,304.60 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled 4,551.82 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 6,827.52 won.

EPS was a loss of 2,192.21 won in the prior year.

Normalized net income was 512.46 billion won, compared with a loss of 255.15 billion won in the prior year.

Full-year total revenue declined on an annual basis to 17.890 trillion won from 28.558 trillion won, and total operating expenses fell year over year to 17.073 trillion won from 28.847 trillion won.

The company said reported net income totaled 610.42 billion won, or 5,421.95 won per share, in the full year, compared with a loss of 287.83 billion won, or a loss of 2,473.00 won per share, the prior year.

As of March 10, US$1 was equivalent to 1,203.54 South Korean won.