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Canadian Tire fiscal Q2 profit climbs 5.4% YOY

Canadian Tire Corp. Ltd said its normalized net income for the fiscal second quarter ended July 2 came to C$2.02 per share, compared with the S&P Capital IQ consensus estimate of C$2.34 per share.

EPS rose 11.6% year over year from C$1.81.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$147.8 million, a gain of 5.4% from C$140.2 million in the year-earlier period.

The normalized profit margin rose to 4.4% from 4.3% in the year-earlier period.

Total revenue climbed year over year to C$3.35 billion from C$3.26 billion, and total operating expenses grew from the prior-year period to C$3.07 billion from C$2.99 billion.

Reported net income rose 8.0% on an annual basis to C$179.5 million, or C$2.46 per share, from C$166.2 million, or C$2.15 per share.