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Coca-Cola FEMSA Q1 profit falls YOY

Coca-Cola FEMSA SAB de CV said its normalized net income for the first quarter amounted to 9.48 Mexican pesos per share, compared with the S&P Capital IQ consensus estimate of 8.95 pesos per share.

EPS declined 12.9% year over year from 10.89 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.96 billion pesos, a decrease of 12.9% from 2.25 billion pesos in the year-earlier period.

The normalized profit margin climbed to 5.7% from 5.6% in the year-earlier period.

Total revenue declined 14.0% year over year to 34.37 billion pesos from 39.98 billion pesos, and total operating expenses fell 15.0% from the prior-year period to 29.75 billion pesos from 34.99 billion pesos.

Reported net income decreased 8.5% year over year to 2.19 billion pesos, or 10.60 pesos per share, from 2.40 billion pesos, or 11.58 pesos per share.

As of April 30, US$1 was equivalent to 15.35 Mexican pesos.