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L Brands fiscal Q1 profit climbs 8.5% YOY

L Brands Inc. said its normalized net income for the fiscal first quarter ended May 3 amounted to 54 cents per share, compared with the S&P Capital IQ consensus estimate of 52 cents per share.

EPS rose 7.8% year over year from 50 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $159.4 million, a gain of 8.5% from $146.9 million in the prior-year period.

The normalized profit margin increased to 6.7% from 6.5% in the year-earlier period.

Total revenue rose 5.4% on an annual basis to $2.39 billion from $2.27 billion, and total operating expenses climbed 5.0% from the prior-year period to $2.06 billion from $1.96 billion.

Reported net income grew 11.2% year over year to $157.4 million, or 53 cents per share, from $141.6 million, or 48 cents per share.