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Fogo de Chao profit misses consensus by 19.0% in fiscal Q2

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Global M&A by the Numbers Q4 2023

Fogo de Chao profit misses consensus by 19.0% in fiscal Q2

Fogo de Chao Inc. said its normalized net income for the fiscal second quarter ended July 3 was 20 cents per share, compared with the S&P Capital IQ consensus estimate of 25 cents per share.

EPS climbed year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.8 million, an increase from $876,880 in the second quarter ended June 28, 2015.

The normalized profit margin increased to 8.5% from 1.3% in the year-earlier period.

Total revenue increased on an annual basis to $69.5 million from $68.2 million, and total operating expenses fell 5.2% from the prior-year period to $59.8 million from $63.1 million.

Reported net income increased year over year to $6.1 million, or 21 cents per share, from $2.4 million, or 10 cents per share.