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Viña Concha y Toro profit misses consensus by 45.5% in Q1

Viña Concha y Toro SA said its normalized net income for the first quarter was 6.75 Chilean pesos per share, compared with the S&P Capital IQ consensus estimate of 12.40 pesos per share.

EPS fell 27.0% year over year from 9.25 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.04 billion pesos, a decline of 27.0% from 6.91 billion pesos in the prior-year period.

The normalized profit margin fell to 4.3% from 6.0% in the year-earlier period.

Total revenue rose year over year to 116.31 billion pesos from 114.34 billion pesos, and total operating expenses climbed on an annual basis to 106.85 billion pesos from 102.81 billion pesos.

Reported net income declined 33.1% on an annual basis to 5.88 billion pesos, or 7.87 pesos per share, from 8.78 billion pesos, or 11.76 pesos per share.

As of May 29, US$1 was equivalent to 619.00 Chilean pesos.