EMERYVILLE, Calif. (AP) — EMERYVILLE, Calif. (AP) — Grocery Outlet (GO) on Tuesday reported third-quarter profit of $24.2 million.
The Emeryville, California-based company said it had profit of 24 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 28 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The supermarket company selling discount, overstocked and closeout products posted revenue of $1.11 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $1.1 billion.
Grocery Outlet expects full-year earnings in the range of 77 cents to 80 cents per share, with revenue expected to be $4.35 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GO at https://www.zacks.com/ap/GO
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
