SuperValu posts 3Q profit, results top Wall Street forecasts

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EDEN PRAIRIE, Minnesota — SuperValu Inc. (SVU) on Wednesday reported fiscal third-quarter profit more than doubled to $79 million.

On a per-share basis, the Eden Prairie, Minnesota-based company said it had profit of 30 cents. Earnings, adjusted to account for discontinued operations, were 18 cents per share.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The grocery store operator posted revenue of $4.2 billion in the period, which also beat Street forecasts. Analysts expected $4.05 billion, according to Zacks.

SuperValu shares have dropped slightly more than 5 percent since the beginning of the year. The stock has risen 33 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. SVU stock research report from Zacks.

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Keywords:SuperValu,Earnings Report

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