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Arca Continental profit misses consensus by 31.3% in Q2

Arca said its second-quarter normalized net income came to 1.01 Mexican pesos per share, compared with the S&P Capital IQ consensus estimate of 1.47 pesos per share.

EPS fell year over year from 1.06 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.78 billion pesos, compared with 1.78 billion pesos in the prior-year period.

The normalized profit margin dropped to 4.6% from 7.7% in the year-earlier period.

Total revenue grew 66.6% year over year to 38.44 billion pesos from 23.07 billion pesos, and total operating expenses increased 74.0% from the prior-year period to 33.16 billion pesos from 19.05 billion pesos.

Reported net income rose from the prior-year period to 2.05 billion pesos, or 1.16 pesos per share, from 2.00 billion pesos, or 1.19 pesos per share.

As of July 19, US$1 was equivalent to 17.50 Mexican pesos.