Jean Coutu Q3 profit rises more than analyst estimates but revenue falls

Jean Coutu, chairman and founder of the Jean Coutu Group Inc., smiles in Longueuil, Que., on July 5, 2011. CANADIAN PRESS/Graham Hughes

January 09, 2014 - 4:50 AM

LONGUEUIL, Que. - The Jean Coutu Group (PJC) Inc. (TSX:PJC.A) reports it had $62.5 million of net income in its fiscal third quarter, an increase from $56.2 million a year earlier and better than analyst estimates.

Coutu's profit equalled 30 cents per share, up from 26 cents per share a year earlier.

That was two cents per share above analyst estimates.

However, the Quebec-based pharmacy chain's revenue were below estimates, falling to $712.5 million from $716.6 million.

Jean Coutu was expected to earn 28 cents per share with $724.3 million of revenues during the third quarter of fiscal 2014, according to Thomson Reuters estimates.

News from © The Canadian Press, 2014

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