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Ultrapar Q2 profit climbs 19.3% YOY

Ultrapar Participações SA said its normalized net income for the second quarter was 59 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 59 centavos per share.

EPS climbed 19.6% year over year from 49 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 322.6 million reais, an increase of 19.3% from 270.3 million reais in the year-earlier period.

The normalized profit margin fell to 1.6% from 1.6% in the year-earlier period.

Total revenue grew 11.1% on an annual basis to 18.51 billion reais from 16.67 billion reais, and total operating expenses climbed 10.8% year over year to 17.87 billion reais from 16.13 billion reais.

Reported net income rose 9.9% from the prior-year period to 328.6 million reais, or 60 centavos per share, from 299.1 million reais, or 54 centavos per share.

As of Aug. 6, US$1 was equivalent to 3.54 reais.