Ultrapar Participações SA said its normalized net income for the fourth quarter amounted to 86 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 77 centavos per share.
EPS climbed 43.6% year over year from 60 centavos.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 467.6 million reais, an increase of 41.4% from 330.6 million reais in the prior-year period.
The normalized profit margin rose to 2.3% from 1.9% in the year-earlier period.
Total revenue grew 15.5% on an annual basis to 20.58 billion reais from 17.82 billion reais, and total operating expenses increased 14.6% on an annual basis to 19.66 billion reais from 17.16 billion reais.
Reported net income increased 33.8% year over year to 494.2 million reais, or 91 centavos per share, from 369.4 million reais, or 67 centavos per share.
For the year, the company's normalized net income totaled 2.59 reais per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 2.64 reais.
EPS rose from 2.02 reais in the prior year.
Normalized net income was 1.42 billion reais, a rise from 1.11 billion reais in the prior year.
Full-year total revenue rose from the prior-year period to 75.66 billion reais from 67.74 billion reais, and total operating expenses increased on an annual basis to 72.66 billion reais from 65.49 billion reais.
The company said reported net income increased on an annual basis to 1.50 billion reais, or 2.74 reais per share, in the full year, from 1.24 billion reais, or 2.26 reais per share.
As of Feb. 18, US$1 was equivalent to 4.02 reais.