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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