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Liquor Stores N.A. profit misses consensus by 40.9% in Q4

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Liquor Stores N.A. profit misses consensus by 40.9% in Q4

Liquor Stores N.A. Ltd. said its normalized net income for the fourth quarter amounted to 15 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

EPS decreased 42.9% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$4.2 million, a decline of 34.2% from C$6.3 million in the prior-year period.

The normalized profit margin dropped to 1.8% from 3.2% in the year-earlier period.

Total revenue rose 8.9% on an annual basis to C$214.2 million from C$196.7 million, and total operating expenses climbed 11.0% year over year to C$204.3 million from C$184.1 million.

Reported net income came to a loss of C$105.9 million, or a loss of C$3.86 per share, compared to income of C$6.6 million, or 28 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled 41 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 56 cents.

EPS declined 18.5% from 50 cents in the prior year.

Normalized net income was C$11.2 million, a decrease from C$11.7 million in the prior year.

Full-year total revenue grew 7.5% from the prior-year period to C$746.4 million from C$694.2 million, and total operating expenses increased 7.9% on an annual basis to C$718.7 million from C$665.9 million.

The company said reported net income totaled a loss of C$99.6 million, or a loss of C$3.64 per share, in the full year, compared with income of C$12.6 million, or 54 cents per share, the prior year.