SUPERVALU INC. Earnings Cheat Sheet: Rise in Profit

S&P 500 (NYSE:SPY) component SUPERVALU INC. (NYSE:SVU) reported net income above Wall Street’s expectations for the first quarter. SUPERVALU Inc. operates as a grocery retailer in the United States.

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SUPERVALU INC Earnings Cheat Sheet for the First Quarter

Results: Net income for the grocery store rose to $74 million (35 cents per share) vs. $67 million (31 cents per share) in the same quarter a year earlier. This marks a rise of 10.4% from the year earlier quarter.

Revenue: Fell 3.7% to $11.11 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: SVU reported adjusted net income of 43 cents per share, which beat the mean analyst estimate of 33 cents per share. Analysts were expecting revenue of $11.2 billion.

Quoting Management: “First quarter results reflect the progress we are making on our eight Plays to Win strategy, and we remain on track to deliver our fiscal 2012 guidance,” said Craig Herkert, SUPERVALU’s chief executive officer and president. “Our dedicated associates are utilizing new planning tools, analytics and a hyper local focus to help us meet the needs of today’s consumers, while reducing shrink and improving our operations.”

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 5.9% to $8.66 billion in the fourth quarter of the last fiscal year. The figure fell 5.9% in the third quarter of the last fiscal year from the year earlier and dropped 8.5% in the second quarter of the last fiscal year from the year-ago quarter.

The company has now beaten estimates the last two quarters. In the fourth quarter of the last fiscal year, it topped expectations with net income of 44 cents versus a mean estimate of net income of 34 cents per share.

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) and Weis Markets, Inc. (NYSE:WMK).

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(Source: Xignite Financials)

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