Compañía Cervecerías Unidas SA said its normalized net income for the fourth quarter was 82.60 Chilean pesos per share, compared with the S&P Capital IQ consensus estimate of 121.52 pesos per share.
EPS increased year over year from 79.68 pesos.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 30.52 billion pesos, an increase from 29.44 billion pesos in the year-earlier period.
The normalized profit margin declined to 6.9% from 7.4% in the year-earlier period.
Total revenue rose 14.2% on an annual basis to 451.95 billion pesos from 395.65 billion pesos, and total operating expenses rose 15.3% on an annual basis to 385.88 billion pesos from 334.75 billion pesos.
Reported net income fell 5.7% on an annual basis to 38.29 billion pesos, or 103.62 pesos per share, from 40.60 billion pesos, or 109.87 pesos per share.
For the year, the company's normalized net income totaled 262.87 pesos per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 358.10 pesos.
EPS rose 11.6% from 235.65 pesos in the prior year.
Normalized net income was 97.13 billion pesos, an increase of 11.6% from 87.07 billion pesos in the prior year.
Full-year total revenue increased 15.4% on an annual basis to 1.498 trillion pesos from 1.298 trillion pesos, and total operating expenses grew 15.3% on an annual basis to 1.289 trillion pesos from 1.117 trillion pesos.
The company said reported net income grew on an annual basis to 120.81 billion pesos, or 326.95 pesos per share, in the full year, from 119.56 billion pesos, or 323.56 pesos per share.
As of Feb. 3, US$1 was equivalent to 709.65 Chilean pesos.