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Hoteles City Express profit misses consensus by 19.5% in Q2

Hoteles City Express SAB de CV said its normalized net income for the second quarter was 11 Mexican centavos per share, compared with the S&P Capital IQ consensus estimate of 14 centavos per share.

EPS rose year over year from 11 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 42.1 million pesos, an increase of 70.9% from 24.6 million pesos in the year-earlier period.

The normalized profit margin climbed to 9.9% from 7.3% in the year-earlier period.

Total revenue climbed 26.0% on an annual basis to 426.3 million pesos from 338.3 million pesos, and total operating expenses rose 22.8% year over year to 344.9 million pesos from 281.0 million pesos.

Reported net income increased 86.8% on an annual basis to 59.8 million pesos, or 16 centavos per share, from 32.0 million pesos, or 14 centavos per share.

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