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SLC Agrí­cola profit misses consensus by 37.9% in Q1

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SLC Agrí­cola profit misses consensus by 37.9% in Q1

SLC Agrícola SA said its normalized net income for the first quarter amounted to 60 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 96 centavos per share.

EPS decreased 28.9% year over year from 84 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 57.8 million reais, a decline of 30.2% from 82.8 million reais in the prior-year period.

The normalized profit margin dropped to 15.9% from 23.6% in the year-earlier period.

Total revenue increased year over year to 364.3 million reais from 350.8 million reais, and total operating expenses grew 20.9% year over year to 237.1 million reais from 196.1 million reais.

Reported net income decreased 22.9% year over year to 33.7 million reais, or 35 centavos per share, from 43.6 million reais, or 44 centavos per share.

As of May 6, US$1 was equivalent to 3.04 reais.