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Gores Holdings profit misses consensus by 20.7% in Q1

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Gores Holdings profit misses consensus by 20.7% in Q1

Hostess Brands Inc. said its normalized net income for the first quarter amounted to 12 cents per share, compared with the S&P Capital IQ consensus estimate of 16 cents per share.

EPS fell 91.6% year over year from $1.48.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $13.0 million, a decrease of 19.9% from $16.2 million in the year-earlier period.

The normalized profit margin fell to 7.0% from 10.1% in the year-earlier period.

Total revenue climbed 15.2% on an annual basis to $184.5 million from $160.2 million, and total operating expenses rose 21.7% from the prior-year period to $139.8 million from $114.9 million.

Reported net income fell 10.7% year over year to $15.7 million, or 15 cents per share, from $17.6 million, or $1.61 per share.