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Coca-Cola FEMSA profit beats consensus by 16.1% in Q1

Coca-Cola FEMSA SAB de CV said its first-quarter normalized net income came to 12.13 Mexican pesos per share, compared with the S&P Capital IQ consensus estimate of 10.46 pesos per share.

EPS rose 26.1% year over year from 9.63 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.53 billion pesos, an increase of 26.0% from 2.00 billion pesos in the prior-year period.

The normalized profit margin rose to 8.9% from 5.5% in the year-earlier period.

Total revenue increased 39.9% year over year to 51.36 billion pesos from 36.72 billion pesos, and total operating expenses increased 42.9% on an annual basis to 45.84 billion pesos from 32.09 billion pesos.

Reported net income grew 146.5% from the prior-year period to 5.89 billion pesos, or 28.30 pesos per share, from 2.39 billion pesos, or 11.47 pesos per share.

As of April 26, US$1 was equivalent to 19.01 Mexican pesos.