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Tupy profit beats consensus by 33.3% in Q3

Tupy SA said its normalized net income for the third quarter came to 36 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 27 centavos per share.

EPS rose 35.4% year over year from 26 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 51.6 million reais, a gain of 35.8% from 38.0 million reais in the year-earlier period.

The normalized profit margin increased to 5.7% from 4.7% in the year-earlier period.

Total revenue grew 6.3% on an annual basis to 855.9 million reais from 804.9 million reais, and total operating expenses rose 6.7% on an annual basis to 789.2 million reais from 740.0 million reais.

Reported net income grew year over year to 60.4 million reais, or 42 centavos per share, from 26.2 million reais, or 18 centavos per share.

As of Nov. 12, US$1 was equivalent to 3.79 reais.