EMERYVILLE, Calif. (AP) — EMERYVILLE, Calif. (AP) — Grocery Outlet (GO) on Tuesday reported third-quarter net income of $11.6 million.
On a per-share basis, the Emeryville, California-based company said it had net income of 12 cents. Earnings, adjusted for one-time gains and costs, were 21 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The supermarket company selling discount, overstocked and closeout products posted revenue of $1.17 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $1.18 billion.
Grocery Outlet expects full-year earnings in the range of 78 cents to 80 cents per share, with revenue in the range of $4.7 billion to $4.72 billion.
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