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Big Lots profit beats consensus by 15.8% in fiscal Q2

Big Lots Inc. said its normalized net income for the fiscal second quarter ended Aug. 1 came to 39 cents per share, compared with the S&P Capital IQ consensus estimate of 34 cents per share.

EPS climbed 27.8% year over year from 31 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $20.2 million, a gain of 17.8% from $17.1 million in the year-earlier period.

The normalized profit margin increased to 1.7% from 1.4% in the year-earlier period.

Total revenue grew on an annual basis to $1.21 billion from $1.20 billion, and total operating expenses totaled $1.17 billion, compared with $1.17 billion in the prior-year period.

Reported net income grew year over year to $18.0 million, or 35 cents per share, from $17.3 million, or 31 cents per share.