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Canadian Tire fiscal Q3 profit falls YOY

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Canadian Tire fiscal Q3 profit falls YOY

Canadian Tire Corp. Ltd. said its normalized net income for the fiscal third quarter ended Oct. 3 was C$1.83 per share, compared with the S&P Capital IQ consensus estimate of C$2.02 per share.

EPS climbed year over year from C$1.77.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$139.6 million, compared with C$140.6 million in the third quarter ended Sept. 27, 2014.

The normalized profit margin declined to 4.5% from 4.6% in the year-earlier period.

Total revenue climbed on an annual basis to C$3.13 billion from C$3.07 billion, and total operating expenses climbed on an annual basis to C$2.85 billion from C$2.81 billion.

Reported net income increased 16.2% from the prior-year period to C$199.7 million, or C$2.62 per share, from C$171.9 million, or C$2.17 per share.