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Empresas Copec Q2 profit climbs 19.3% YOY

Empresas Copec SA said its second-quarter normalized net income was 12 cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.

EPS rose 19.3% year over year from 10 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $149.8 million, an increase of 19.3% from $125.5 million in the year-earlier period.

The normalized profit margin fell to 3.0% from 3.1% in the year-earlier period.

Total revenue rose 21.1% year over year to $4.95 billion from $4.09 billion, and total operating expenses grew 20.6% from the prior-year period to $4.66 billion from $3.87 billion.

Reported net income totaled $173.6 million, or 13 cents per share, compared with $172.7 million, or 13 cents per share, in the prior-year period.