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Lojas Americanas profit misses consensus by 35.6% in Q4

Lojas Americanas SA said its fourth-quarter normalized net income came to 11 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 17 centavos per share.

EPS decreased 51.7% year over year from 22 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 158.8 million reais, a decline of 50.1% from 318.2 million reais in the prior-year period.

The normalized profit margin fell to 2.5% from 5.5% in the year-earlier period.

Total revenue rose 7.7% year over year to 6.26 billion reais from 5.82 billion reais, and total operating expenses rose 10.2% on an annual basis to 5.42 billion reais from 4.92 billion reais.

Reported net income rose 25.1% on an annual basis to 255.6 million reais, or 17 centavos per share, from 204.2 million reais, or 14 centavos per share.

For the year, the company's normalized net income totaled 8 centavos per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 15 centavos.

EPS declined 68.7% from 25 centavos in the prior year.

Normalized net income was 111.7 million reais, a fall of 68.8% from 357.5 million reais in the prior year.

Full-year total revenue amounted to 18.10 billion reais, compared with 17.93 billion reais in the prior year, and total operating expenses came to 16.07 billion reais, compared with 15.99 billion reais in the prior-year period.

The company said reported net income decreased 15.4% year over year to 211.7 million reais, or 15 centavos per share, in the full year, from 250.2 million reais, or 18 centavos per share.

As of Feb. 20, US$1 was equivalent to 3.09 reais.