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Soriana profit misses consensus by 23.1% in Q1

Organización Soriana SAB de CV said its first-quarter normalized net income came to 37 Mexican centavos per share, compared with the S&P Capital IQ consensus estimate of 49 centavos per share.

EPS declined 7.8% year over year from 40 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 677.7 million pesos, a decline of 7.3% from 731.3 million pesos in the year-earlier period.

The normalized profit margin declined to 2.7% from 3.1% in the year-earlier period.

Total revenue increased on an annual basis to 24.75 billion pesos from 23.71 billion pesos, and total operating expenses increased year over year to 23.58 billion pesos from 22.50 billion pesos.

Reported net income declined from the prior-year period to 780.8 million pesos, or 43 centavos per share, from 795.2 million pesos, or 44 centavos per share.

As of April 24, US$1 was equivalent to 15.38 Mexican pesos.