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George Weston fiscal Q3 profit climbs 95.0% YOY

George Weston Ltd said its normalized net income for the fiscal third quarter ended Oct. 10 came to C$1.47 per share, compared with the S&P Capital IQ consensus estimate of C$1.66 per share.

EPS rose 94.8% year over year from 75 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$188.6 million, an increase of 95.0% from C$96.8 million in the year-earlier period.

The normalized profit margin climbed to 1.3% from 0.7% in the year-earlier period.

Total revenue climbed on an annual basis to C$14.39 billion from C$13.97 billion, and total operating expenses rose year over year to C$13.72 billion from C$13.44 billion.

Reported net income grew from the prior-year period to C$147.5 million, or C$1.15 per share, from C$38.5 million, or 30 cents per share.