Fleury Falls in Sao Paulo After 11th Straight Earnings Miss

Fleury SA, the worst-performing Brazilian medical services provider this year, fell the most in six weeks after reporting a profit that trailed analysts’ estimates for an 11th straight quarter.

The shares tumbled 2.3 percent to 19.05 reais at the close of trading in Sao Paulo, the steepest drop since June 19. The BM&FBovespa Small Cap Index, of which Fleury is a member, lost

1.1 percent.

Fleury posted adjusted net income of 22.1 million reais ($9.7 million) in the second quarter, according to data compiled by Bloomberg after the company released results yesterday. That compares with an average estimate of 30.7 million reais compiled by Bloomberg. The Sao Paulo-based company has missed earnings estimates since 2010, the data show.

Fleury has lost 17 percent this year, while the small-cap gauge has dropped 15 percent.

(Updates with closing prices in second paragraph.)
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