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Smart & Final Stores profit misses consensus by 46.3% in fiscal Q3

Smart & Final Stores Inc. said its normalized net income for the fiscal third quarter ended Oct. 9 amounted to 9 cents per share, compared with the S&P Capital IQ consensus estimate of 16 cents per share.

EPS declined 49.0% year over year from 17 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.7 million, a decline of 48.8% from $13.1 million in the year-earlier period.

The normalized profit margin declined to 0.5% from 1.1% in the year-earlier period.

Total revenue rose 11.9% year over year to $1.39 billion from $1.25 billion, and total operating expenses climbed 13.0% on an annual basis to $1.37 billion from $1.22 billion.

Reported net income fell 43.5% on an annual basis to $7.0 million, or 9 cents per share, from $12.4 million, or 16 cents per share.