Saputo Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 was 42 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 52 cents per share.
EPS fell year over year from 44 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$165.8 million, a decrease from C$174.2 million in the year-earlier period.
The normalized profit margin fell to 5.7% from 6.1% in the year-earlier period.
Total revenue increased on an annual basis to C$2.88 billion from C$2.85 billion, and total operating expenses rose year over year to C$2.61 billion from C$2.55 billion.
Reported net income decreased year over year to C$183.8 million, or 47 cents per share, from C$190.6 million, or 48 cents per share.
