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SUPERVALU INC. Earnings: Profit Streak Snapped by a Loss

January 11 2012 Tweet Email This

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

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SUPERVALU INC Earnings Cheat Sheet for the Third Quarter.

Results: Loss widened to $750 million ($3.54 per diluted share) from $202 million (loss of 95 cents per share) in the same quarter a year earlier.

Revenue: Fell 4% to $8.33 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: SVU reported adjusted net income of 24 cents per share. By that measure, the company fell in line with the mean estimate of 24 cents per share. Analysts were expecting revenue of $8.42 billion.

Quoting Management: “SUPERVALU continued to execute on its business transformation this quarter and remains on plan with its eight Plays to Win strategy,” said Craig Herkert, SUPERVALU’s chief executive officer and president. “Even with the ongoing difficult economic environment and pressured consumer, we continued to make progress against our plan, allowing us to invest in price to deliver everyday value and hyper local choices that meet the needs of our customers in the diverse neighborhoods we serve.”

Key Stats:

The company fell in line with estimates last quarter after topping expectations in the previous two quarters. In the second quarter, it topped the mark by 8 cents, and in the first quarter, it was ahead by 2 cents.

Looking Forward: Over the past ninety days, the average estimate for the fourth quarter has fallen from 38 cents per share to 36 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. The average estimate for the fiscal year is $1.24 per share, a rise from $1.23 ninety 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) and Weis Markets, Inc. (NYSE:WMK).