trending Market Intelligence /marketintelligence/en/news-insights/trending/Z2zBGpAvXMbmYedsmIv4Jw2 content esgSubNav
In This List

Formosa Chemicals & Fibre Q1 profit falls YOY

Blog

Broadcast deal market recap, Q2'22

Blog

Japan M&A By the Numbers: Q1 2022

Podcast

Next in Tech | Episode 77: Language in Tech

Podcast

Street Talk | Episode 98: Regulatory scrutiny having cooling effect on community bank M&A


Formosa Chemicals & Fibre Q1 profit falls YOY

Formosa Chemicals & Fibre Corp. said its normalized net income for the first quarter came to 16 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 18 cents per share.

EPS fell 52.8% year over year from 35 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$973.3 million, a decline of 52.0% from NT$2.03 billion in the year-earlier period.

The normalized profit margin fell to 1.2% from 2.0% in the year-earlier period.

Total revenue decreased 19.9% on an annual basis to NT$80.91 billion from NT$100.96 billion, and total operating expenses decreased 21.2% on an annual basis to NT$78.24 billion from NT$99.27 billion.

Reported net income fell 73.8% year over year to NT$1.49 billion, or 25 cents per share, from NT$5.68 billion, or 97 cents per share.

As of May 6, US$1 was equivalent to NT$30.61.