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Lojas Americanas profit misses consensus by 36.4% in Q4

Lojas Americanas SA said its fourth-quarter normalized net income came to 11 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 18 centavos per share.

EPS fell 28.9% year over year from 16 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 164.6 million reais, a decline of 28.5% from 230.2 million reais in the year-earlier period.

The normalized profit margin climbed to 5.5% from 4.2% in the year-earlier period.

Total revenue climbed 6.3% year over year to 5.82 billion reais from 5.47 billion reais, and total operating expenses increased 8.4% on an annual basis to 5.16 billion reais from 4.76 billion reais.

Reported net income fell 31.1% on an annual basis to 204.2 million reais, or 14 centavos per share, from 296.3 million reais, or 21 centavos per share.

For the year, the company's normalized net income totaled 14 centavos per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 28 centavos.

EPS declined 40.8% from 24 centavos in the prior year.

Normalized net income was 204.0 million reais, a decline of 40.5% from 342.8 million reais in the prior year.

Full-year total revenue grew 11.0% year over year to 17.93 billion reais from 16.15 billion reais, and total operating expenses grew 12.3% year over year to 16.24 billion reais from 14.46 billion reais.

The company said reported net income decreased 41.5% year over year to 250.2 million reais, or 17 centavos per share, in the full year, from 427.8 million reais, or 30 centavos per share.

As of March 11, US$1 was equivalent to 3.61 reais.