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Canadian Tire fiscal Q4 profit climbs 13.4% YOY

Canadian Tire Corp. Ltd. said its normalized net income for the fiscal fourth quarter ended Jan. 2 came to C$2.53 per share, compared with the S&P Capital IQ consensus estimate of C$2.58 per share.

EPS rose 18.7% year over year from C$2.13.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$189.7 million, an increase of 13.4% from C$167.3 million in the prior-year period.

The normalized profit margin rose to 5.7% from 4.6% in the year-earlier period.

Total revenue decreased 7.5% year over year to C$3.38 billion from C$3.65 billion, and total operating expenses declined 8.7% from the prior-year period to C$3.03 billion from C$3.31 billion.

Reported net income grew 17.7% year over year to C$225.5 million, or C$3.01 per share, from C$191.6 million, or C$2.44 per share.

For the year, the company's normalized net income totaled C$6.89 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of C$7.90.

EPS rose 6.9% from C$6.44 in the prior year.

Normalized net income was C$527.4 million, a gain from C$512.8 million in the prior year.

Full-year total revenue declined on an annual basis to C$12.28 billion from C$12.46 billion, and total operating expenses decreased on an annual basis to C$11.24 billion from C$11.46 billion.

The company said reported net income increased 9.1% on an annual basis to C$659.4 million, or C$8.61 per share, in the full year, from C$604.3 million, or C$7.59 per share.