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Consorcio ARA profit misses consensus by 18.2% in Q2

Consorcio ARA SAB de CV said its normalized net income for the second quarter came to 10 Mexican centavos per share, compared with the S&P Capital IQ consensus estimate of 12 centavos per share.

EPS increased 83.5% year over year from 5 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 126.4 million pesos, an increase of 69.9% from 74.4 million pesos in the prior-year period.

The normalized profit margin climbed to 7.4% from 5.4% in the year-earlier period.

Total revenue grew 23.2% year over year to 1.71 billion pesos from 1.39 billion pesos, and total operating expenses increased 18.1% year over year to 1.52 billion pesos from 1.29 billion pesos.

Reported net income increased 69.8% on an annual basis to 141.6 million pesos, or 11 centavos per share, from 83.4 million pesos, or 6 centavos per share.

As of July 23, US$1 was equivalent to 16.10 Mexican pesos.