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Arca Continental profit misses consensus by 19.6% in Q1

Arca said its normalized net income for the first quarter came to 97 Mexican centavos per share, compared with the S&P Capital IQ consensus estimate of 1.20 pesos per share.

EPS fell year over year from 1.00 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.70 billion pesos, an increase from 1.68 billion pesos in the year-earlier period.

The normalized profit margin declined to 6.9% from 7.9% in the year-earlier period.

Total revenue grew 16.6% year over year to 24.80 billion pesos from 21.27 billion pesos, and total operating expenses increased 16.7% year over year to 21.09 billion pesos from 18.08 billion pesos.

Reported net income decreased 7.6% year over year to 1.73 billion pesos, or 98 centavos per share, from 1.87 billion pesos, or 1.12 pesos per share.

As of April 28, US$1 was equivalent to 18.97 Mexican pesos.