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Metro Inc. profit misses consensus by 17.2% in fiscal Q3

Metro Inc. said its normalized net income for the fiscal third quarter ended July 2 came to 60 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 73 cents per share.

EPS climbed 13.6% year over year from 53 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$144.0 million, an increase of 8.3% from C$132.9 million in the prior-year period.

The normalized profit margin rose to 3.6% from 3.5% in the year-earlier period.

Total revenue rose on an annual basis to C$4.02 billion from C$3.84 billion, and total operating expenses rose from the prior-year period to C$3.78 billion from C$3.61 billion.

Reported net income grew 7.3% year over year to C$171.7 million, or 72 cents per share, from C$160.1 million, or 64 cents per share.