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Hoteles City Express profit misses consensus by 28.6% in Q1

Hoteles City Express SAB de CV said its normalized net income for the first quarter amounted to 7 Mexican centavos per share, compared with the S&P Capital IQ consensus estimate of 10 centavos per share.

EPS rose 59.7% year over year from 4 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 27.5 million pesos, an increase from 10.5 million pesos in the prior-year period.

The normalized profit margin rose to 7.3% from 3.4% in the year-earlier period.

Total revenue increased 21.0% year over year to 376.4 million pesos from 311.2 million pesos, and total operating expenses climbed 19.7% year over year to 317.8 million pesos from 265.6 million pesos.

Reported net income rose on an annual basis to 37.3 million pesos, or 10 centavos per share, from 13.8 million pesos, or 6 centavos per share.

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