Ultrapar Participações SA said its fourth-quarter normalized net income came to 67 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 76 centavos per share.
EPS declined 22.5% year over year from 86 centavos.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 363.2 million reais, a decline of 22.3% from 467.6 million reais in the year-earlier period.
The normalized profit margin declined to 1.9% from 2.3% in the year-earlier period.
Total revenue fell 7.3% on an annual basis to 19.09 billion reais from 20.58 billion reais, and total operating expenses decreased 6.9% on an annual basis to 18.30 billion reais from 19.66 billion reais.
Reported net income declined 11.9% on an annual basis to 435.4 million reais, or 80 centavos per share, from 494.2 million reais, or 91 centavos per share.
For the year, the company's normalized net income totaled 2.50 reais per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 2.78 reais.
EPS declined from 2.59 reais in the prior year.
Normalized net income was 1.37 billion reais, a fall from 1.42 billion reais in the prior year.
Full-year total revenue rose on an annual basis to 77.35 billion reais from 75.66 billion reais, and total operating expenses increased on an annual basis to 74.32 billion reais from 72.66 billion reais.
The company said reported net income rose on an annual basis to 1.56 billion reais, or 2.86 reais per share, in the full year, from 1.50 billion reais, or 2.74 reais per share.
As of Feb. 23, US$1 was equivalent to 3.07 reais.
