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Alsea profit misses consensus by 26.9% in Q2

Alsea said its second-quarter normalized net income was 16 Mexican centavos per share, compared with the S&P Capital IQ consensus estimate of 22 centavos per share.

EPS climbed 32.6% year over year from 12 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 137.4 million pesos, an increase of 51.9% from 90.5 million pesos in the prior-year period.

The normalized profit margin climbed to 1.8% from 1.7% in the year-earlier period.

Total revenue rose 49.2% year over year to 7.76 billion pesos from 5.20 billion pesos, and total operating expenses rose 47.3% on an annual basis to 7.21 billion pesos from 4.90 billion pesos.

Reported net income grew 5.0% from the prior-year period to 92.6 million pesos, or 11 centavos per share, from 88.2 million pesos, or 12 centavos per share.

As of July 22, US$1 was equivalent to 16.09 Mexican pesos.