SUPERVALU INC. Earnings Cheat Sheet: Beats Estimates with a Swing Up

S&P 500 (NYSE:SPY) component SUPERVALU INC. (NYSE:SVU) reported its results for the second quarter. SUPERVALU operates as a grocery retailer in the United States.

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SUPERVALU INC Earnings Cheat Sheet for the Second Quarter

Results: Reported a profit of $134 million (63 cents per diluted share) in the quarter. The grocery store had a net loss of $1.47 billion or a loss of $6.94 per share in the year earlier quarter.

Revenue: Fell 2.6% to $8.43 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: SVU reported adjusted net income of 28 cents per share. By that measure, the company beat the mean estimate of 20 cents per share. Analysts were expecting revenue of $8.36 billion.

Quoting Management: “Our eight Plays to Win strategy is gaining traction and we remain on plan with our business transformation. Increased discipline and analytical tools are helping to advance hyper local retailing initiatives, which are starting to have a positive impact on our customers’ shopping experience,” said Craig Herkert, SUPERVALU’s chief executive officer and president. “While I am encouraged by our execution, I remain mindful of the challenging economy and its impact on consumer behavior. As we move into the second half of our fiscal year, SUPERVALU remains focused on its strategy and meeting the needs of its customers.”

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 3.7% to $11.11 billion in the first quarter. The figure fell 5.9% in the fourth quarter of the last fiscal year from the year earlier and dropped 5.9% in the third quarter of the last fiscal year from the year-ago quarter.

The company has now topped analyst estimates for the last three quarters. It beat the mark by 2 cents in the first quarter and by 10 cents in the fourth quarter of the last fiscal year.

Looking Forward: Over the past ninety days, the average estimate for the third quarter has fallen from 27 cents per share to 26 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. The average estimate for the fiscal year is now $1.21 per share, down from $1.26 sixty days ago.

Competitors to Watch: Safeway Inc. (NYSE:SWY), The Kroger Co. (NYSE:KR), Whole Foods Market, Inc. (NASDAQ:WFM), Winn-Dixie Stores, Inc. (NASDAQ:WINN), Ingles Markets, Inc. (NASDAQ:IMKTA), Nash-Finch Company (NASDAQ:NAFC), AMCON Distributing Co. (AMEX:DIT), Spartan Stores, Inc. (NASDAQ:SPTN), Wal-Mart (NYSE:WMT), Target (NYSE:TGT), The Great Atlantic & Pacific Tea Co. (GAPTQ), and Weis Markets, Inc. (NYSE:WMK).

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(Source: Xignite Financials)