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Smart & Final Stores profit misses consensus by 21.4% in fiscal Q3

Smart & Final Stores Inc. said its normalized net income for the fiscal third quarter ended Oct. 4 came to 17 cents per share, compared with the S&P Capital IQ consensus estimate of 22 cents per share.

In the prior-year period, the per-share result came in at a profit of 17 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $13.1 million, a gain of 25.6% from $10.4 million in the prior-year period.

The normalized profit margin rose to 1.1% from 0.9% in the year-earlier period.

Total revenue increased 10.1% year over year to $1.25 billion from $1.13 billion, and total operating expenses grew 10.2% year over year to $1.22 billion from $1.10 billion.

Reported net income grew 19.0% from the prior-year period to $12.4 million, or 16 cents per share, from $10.4 million, or 17 cents per share.