Safeway Inc. Fourth Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Safeway, Inc. (NYSE:SWY) will unveil its latest earnings on Thursday, February 23, 2012. Safeway is a retail supermarket chain in North America. As a food and drug retailer, the company, with its subsidiaries, operates stores that offer a range of grocery products, general merchandise and specialty departments like pharmacies and coffee shops. It also owns and operates distribution, manufacturing and food-processing facilities.

Safeway, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for profit of 64 cents per share, a rise of 3.2% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from 65 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 64 cents during the last month. Analysts are projecting profit to rise by 9.6% compared to last year’s $1.72.

Past Earnings Performance: Last quarter, the company beat estimates by 3 cents, coming in at net income of 38 cents a share versus the estimate of profit of 35 cents a share. It marked the fourth straight quarter of beating estimates.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 5.3% in revenue from the year-earlier quarter to $13.48 billion.

Analyst Ratings: The stock has a mean recommendation of hold.

A Look Back: In the third quarter, profit rose 6% to $130.2 million (38 cents a share) from $122.8 million (33 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 7.1% to $10.06 billion from $9.4 billion.

Key Stats:

Revenue has risen the past four quarters. Revenue rose 7.1% in the second quarter from the year earlier, climbed 4.8% in the first quarter from the year-ago quarter and 0.9% in the fourth quarter of the last fiscal year.

Stock Price Performance: Between November 21, 2011 and February 17, 2012, the stock price rose $3.93 (20.7%), from $19.02 to $22.95. The stock price saw one of its best stretches over the last year between January 12, 2012 and January 25, 2012, when shares rose for nine straight days, increasing 11.4% (+$2.35) over that span. It saw one of its worst periods between January 27, 2012 and February 7, 2012 when shares fell for eight straight days, dropping 5.5% (-$1.23) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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