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Metro Inc. profit misses consensus by 17.0% in fiscal Q2

Metro Inc. said its normalized net income for the fiscal second quarter ended March 14 amounted to 35 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 42 cents per share.

EPS rose 18.4% year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$88.6 million, a gain of 12.5% from C$78.7 million in the prior-year period.

The normalized profit margin climbed to 3.3% from 3.1% in the year-earlier period.

Total revenue climbed 6.0% year over year to C$2.71 billion from C$2.55 billion, and total operating expenses climbed 5.7% from the prior-year period to C$2.57 billion from C$2.43 billion.

Reported net income grew 13.5% from the prior-year period to C$109.1 million, or 43 cents per share, from C$96.1 million, or 36 cents per share.