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Coca-Cola FEMSA profit misses consensus by 35.6% in Q2

Coca-Cola FEMSA SAB de CV said its second-quarter normalized net income came to 8.56 Mexican pesos per share, compared with the S&P Capital IQ consensus estimate of 13.29 pesos per share.

EPS climbed 10.6% year over year from 7.74 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.79 billion pesos, a gain of 11.5% from 1.60 billion pesos in the year-earlier period.

The normalized profit margin dropped to 1.6% from 3.9% in the year-earlier period.

Total revenue increased 20.6% on an annual basis to 50.11 billion pesos from 41.56 billion pesos, and total operating expenses rose 22.8% year over year to 44.91 billion pesos from 36.56 billion pesos.

Reported net income rose 15.7% year over year to 2.23 billion pesos, or 10.66 pesos per share, from 1.93 billion pesos, or 9.29 pesos per share.

As of July 24, US$1 was equivalent to 17.68 Mexican pesos.