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Smart & Final Stores profit misses consensus by 26.6% in fiscal Q1

Smart & Final Stores Inc. said its normalized net income for the fiscal first quarter ended March 22 amounted to 6 cents per share, compared with the S&P Capital IQ consensus estimate of 9 cents per share.

EPS rose 56.0% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.8 million, an increase from $2.4 million in the year-earlier period.

The normalized profit margin increased to 0.6% from 0.3% in the year-earlier period.

Total revenue climbed 11.9% year over year to $822.2 million from $735.0 million, and total operating expenses rose 11.6% year over year to $807.0 million from $722.8 million.

Reported net income rose 93.3% year over year to $4.6 million, or 6 cents per share, from $2.4 million, or 4 cents per share.