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Estí¡cio Participaçíµes profit misses consensus by 45.9% in Q3

Estácio Participações SA said its third-quarter normalized net income came to 25 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 46 centavos per share.

EPS rose 5.7% year over year from 23 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 78.4 million reais, an increase of 6.3% from 73.7 million reais in the prior-year period.

The normalized profit margin increased to 11.5% from 10.4% in the year-earlier period.

Total revenue increased 7.6% on an annual basis to 763.1 million reais from 709.0 million reais, and total operating expenses climbed from the prior-year period to 605.1 million reais from 578.8 million reais.

Reported net income grew 7.2% year over year to 135.7 million reais, or 43 centavos per share, from 126.6 million reais, or 40 centavos per share.

As of Nov. 10, US$1 was equivalent to 3.38 reais.