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Companhia Brasileira de Distribuiçí£o profit misses consensus by 21.9% in Q1

Companhia Brasileira de Distribuição said its normalized net income for the first quarter came to 82 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 1.05 reais per share.

EPS rose 6.0% year over year from 77 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 217.5 million reais, an increase of 6.0% from 205.1 million reais in the year-earlier period.

The normalized profit margin dropped to 1.3% from 1.4% in the year-earlier period.

Total revenue grew 15.3% year over year to 17.24 billion reais from 14.95 billion reais, and total operating expenses grew 16.6% from the prior-year period to 16.54 billion reais from 14.19 billion reais.

Reported net income came to 192.0 million reais, or 72 centavos per share, compared to 191.0 million reais, or 72 centavos per share, in the prior-year period.

As of May 11, US$1 was equivalent to 3.03 reais.