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Smart & Final Stores profit misses consensus by 21.1% in fiscal Q2

Smart & Final Stores Inc. said its normalized net income for the fiscal second quarter ended June 14 amounted to 16 cents per share, compared with the S&P Capital IQ consensus estimate of 21 cents per share.

EPS fell 13.7% year over year from 19 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $12.6 million, a gain of 11.8% from $11.3 million in the prior-year period.

The normalized profit margin climbed to 1.4% from 1.4% in the year-earlier period.

Total revenue climbed 9.3% on an annual basis to $905.1 million from $828.1 million, and total operating expenses grew 9.5% year over year to $877.7 million from $801.4 million.

Reported net income decreased on an annual basis to $10.8 million, or 14 cents per share, from $11.3 million, or 19 cents per share.