Supervalu Earnings: Here’s Why Investors are Buying Shares
SUPERVALU Inc. (NYSE:SVU) generated a quarterly profit and missed Wall Street’s expectations, BUT beat the revenue estimate. The revenue beat is a positive sign to shareholders who believe in the turnaround play. Shares are up 14.47%.
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SUPERVALU Inc. Earnings Cheat Sheet
Results: Net income increased to $16 million (3 cents per diluted share) in the quarter versus a net loss of $750 million in the year-earlier quarter.
Revenue: Decreased 5.13% to $7.9 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: SUPERVALU Inc. reported adjusted net income of 3 cents per share. By that measure, the company missed the mean analyst estimate of $0.05. It beat the average revenue estimate of $7.89 billion.
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Revenue decreased 1.73% from $8.04 billion in the previous quarter. Net income increased to $16 million in the quarter versus a net loss of $111 million in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.24 to a profit $0.2. For the current year, the average estimate has moved down from a profit of $0.69 to a profit of $0.49 over the last ninety days.
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(Company fundamentals provided by Xignite Financials.)
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