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Coca-Cola FEMSA profit misses consensus by 18.5% in Q3

Coca-Cola FEMSA SAB de CV said its third-quarter normalized net income came to 9.07 Mexican pesos per share, compared with the S&P Capital IQ consensus estimate of 11.14 pesos per share.

EPS decreased 21.1% year over year from 11.51 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.88 billion pesos, a decline of 21.3% from 2.39 billion pesos in the year-earlier period.

The normalized profit margin fell to 5.0% from 5.7% in the year-earlier period.

Total revenue fell 9.9% on an annual basis to 37.66 billion pesos from 41.78 billion pesos, and total operating expenses decreased 9.3% from the prior-year period to 32.33 billion pesos from 35.64 billion pesos.

Reported net income decreased 40.5% year over year to 1.99 billion pesos, or 9.59 pesos per share, from 3.34 billion pesos, or 16.10 pesos per share.

As of Oct. 28, US$1 was equivalent to 16.44 Mexican pesos.