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SalMar profit beats consensus by 30.9% in Q1

SalMar ASA said its normalized net income for the first quarter amounted to 4.03 Norwegian kroner per share, compared with the S&P Capital IQ consensus estimate of 3.08 kroner per share.

EPS increased year over year from 1.41 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 453.1 million kroner, a gain from 159.6 million kroner in the year-earlier period.

The normalized profit margin climbed to 22.6% from 9.9% in the year-earlier period.

Total revenue grew 24.0% on an annual basis to 2.00 billion kroner from 1.61 billion kroner, and total operating expenses came to 1.42 billion kroner, compared with 1.41 billion kroner in the year-earlier period.

Reported net income rose from the prior-year period to 589.0 million kroner, or 5.24 kroner per share, from 218.7 million kroner, or 1.93 kroner per share.

As of May 11, US$1 was equivalent to 8.16 Norwegian kroner.